51. Valuation of Foreign Currency Denominated Transactions 外貨建取引・資産の評価

外貨建取引・資産の評価について英語でまとめました。
The table below provides an overview of fiscal year-end valuation of transactions and assets denominated in foreign currencies for Japanese corporate tax purposes.

See this post for more about Japanese tax and accounting.

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Japanese Corporate Tax Law provides for the valuation of foreign currency denominated transactions/assets at fiscal year-end as shown in the table below. 

Definition of foreign currency denominated transactions			The following and other transactions for which payment is made in foreign currencies: -    Sale or purchase of assets -    Provision of services -    Lending or borrowing of money -    Distribution of dividends
Remeasurement method at fiscal year-end
	Receivables and payables		Use historical exchange rate or fiscal year-end exchange rate
	Securities	Trading	Use fiscal year-end exchange rate
		Non-trading with maturity date and redemption price	Use historical exchange rate or fiscal year-end exchange rate
		Other than above two	Use historical exchange rate
	Deposits		Use historical exchange rate or fiscal year-end exchange rate
	Currencies		Use fiscal year-end exchange rate
Selection of method			A method for each foreign currency and each asset classification
Reporting of method			Notify the selected method(s) in writing to the tax office by the filing due date of the final tax return for the fiscal year in which the asset is acquired, unless the selection cannot be made.
Mandatory selection			Remeasurement where no method is selected or the selected method is not used is as follows, unless the selection cannot be made: -  Short-term receivables/deposits: use fiscal year-end rate -  Other than above: use historical rate
Change of method			File a change application before beginning of the fiscal year of change with the tax office.  Approval is deemed granted at end of the fiscal year of application if no decision is notified by that date.
Foreign exchange gain or loss			1. Fiscal year-end: Include exchange gain or loss in taxable income or deductible expenses for the fiscal year 2. Following fiscal year: Reverse treatment 1
Significant fluctuations			In the case of significant fluctuations, remeasurement may be made as if the underlying transaction occurred at the end of the fiscal year

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