Application of Tax Effect Accounting Following the Transition to the Group Tax Sharing System
First written in FY2022-Q1. 4 of 6 entries say "Restated". Latest entry: FY2023-Q3.
- FY2023-Q3RestatedAnnual report
「The Company and certain domestic consolidated subsidiaries transitioned from the consolidated taxation system to the group tax sharing system from the first quarter of the current consolidated fiscal year. Accordingly, the accounting treatment and disclosure for corporate and local corporate taxes and tax effect accounting comply with the Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (Practical Issues Task Force Report No. 42, 12 August 2021; hereinafter, “Practical Issues Task Force Report No. 42”).」
The transition to the group tax sharing system from the first quarter and the continued application of accounting and disclosure based on Practical Solution Report No. 42 are disclosed. - FY2023-Q2RestatedAnnual report
「The Company and certain domestic consolidated subsidiaries transitioned from the consolidated taxation system to the group tax sharing system from the first quarter of the current consolidated fiscal year. Accordingly, the accounting treatment and disclosure for corporate and local corporate taxes and tax effect accounting comply with the Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (Practical Issues Task Force Report No. 42, 12 August 2021; hereinafter, “Practical Issues Task Force Report No. 42”).」
The transition to the group tax sharing system from the first quarter and the continued application of accounting and disclosure based on Practical Solution Report No. 42 are disclosed. - FY2023-Q1AdvancedAnnual report
「The company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax sharing system from the first quarter of the consolidated fiscal year. Accordingly, the accounting treatment and disclosure of corporate income taxes, local corporate taxes and tax effect accounting follow Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (ASBJ PITF No. 42, 12 August 2021, hereinafter “PITF No. 42”).」
The company moved from the transitional tax-effect accounting treatment associated with the previous transition to actually adopting the group tax sharing system during the current first-quarter accounting period, and proceeded to accounting and disclosure based on Practical Solution Report No. 42. - FY2022-Q3RestatedAnnual report
「The Company and certain domestic consolidated subsidiaries have applied the treatment under Paragraph 3 of the Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (Practical Issues Task Force Report No. 39, 31 March 2020) to matters for which the transition to the group tax sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020) and related revisions to the single-company tax payment system were made. Accordingly, without applying the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of the tax laws before the amendments.」
The company continues to apply transitional treatment for tax-effect accounting accompanying the transition to the group tax sharing system. - FY2022-Q2RestatedAnnual report
「The Company and certain domestic consolidated subsidiaries have applied the treatment under Paragraph 3 of the Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (Practical Issues Task Force Report No. 39, 31 March 2020) to matters for which the transition to the group tax sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020) and related revisions to the single-company tax payment system were made. Accordingly, without applying the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of the tax laws before the amendments.」
The company continues to apply transitional treatment for tax-effect accounting accompanying the transition to the group tax sharing system. - FY2022-Q1First statedAnnual report
「The Company and certain domestic consolidated subsidiaries have applied the treatment under Paragraph 3 of the Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (Practical Issues Task Force Report No. 39, 31 March 2020) to matters for which the transition to the group tax sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020) and related revisions to the single-company tax payment system were made. Accordingly, without applying the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of the tax laws before the amendments.」
For tax-effect accounting associated with the transition to the group tax sharing system, the company applies transitional treatment under which deferred tax assets and liabilities are calculated based on the tax laws before amendment.