Friday, September 5, 2008

Amendment to the laws of public-interest corporations in Japan

Effective from December 1, 2008, there will be a major amendment to the laws of public-interest corporations in Japan. The Japanese public-interest corporation system has been criticized due to its opaque rules to be recognized as a charitable organization. Many charitable organizations enjoy the benefit of exclusion from taxation, even if their businesses are not related to the public interest.

This amendment will respond to these criticisms. Establishing a public-interest corporation itself will be much easier, but to enjoy the benefit of no tax, a corporation has to go through a strict process of examining that the corporation is really run for public good.

For more information, contact us at our website ->Incorporate in Japan.

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