10. General Anti-Avoidance Rule (GAAR) in Japan 組織再編成に係る行為又は計算の否認

法人税法132条の2を英語にしてみました。

The General Anti-Avoidance Rule for reorganization is provided in Article 132-2 of Corporation Tax Act ("CTA") of Japan. For more about Japanese tax and accounting, click HERE:

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Japanese Corporation Tax Act

Chapter 4 Correction of tax due by the tax authorities
132-2  Disallowance of acts or calculations related to group reorganization

The director of a tax office may recalculate the corporate tax, or the tax basis or the tax loss for corporate tax purposes, of any of the companies listed below in 1. to 3. related to a merger, corporate division, distribution/contribution in kind, squeeze-out or share transfer (hereinafter "reorganization") and request a correction of tax or assess tax if the director determines that an act or calculation by the company, if allowed, would inappropriately reduce the corporate tax liability of the company for reasons including but not limited to the following:

• a gain decrease or a loss increase on the assets and liabilities transferred in the reorganization 
• an increase in corporate tax credits 
• a gain decrease or a loss increase on the transfer of shares in any of the companies in 1 or 2 below  
• a decrease in deemed dividends 

1. Companies involved, or receiving assets and liabilities, in the reorganization 
2. A company issuing the shares distributed in the reorganization (excluding the companies provided in the preceding item)  
3. Corporate shareholders of any of the companies provided in the preceding two items (excluding the companies provided in the preceding two items)

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