Application of Tax-Effect Accounting in Connection with the Transition to the Group Tax Sharing System
First written in FY2022-Q1. 3 of 5 entries say "Restated". Latest entry: FY2023-Q3.
- FY2023-Q3RestatedAnnual report
「The Company and its domestic consolidated subsidiaries have 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 disclosures for corporate income taxes, local corporate taxes and tax-effect accounting are in accordance with the Practical Solution on the Accounting Treatment and Disclosure for Applying the Group Tax Sharing System (Practical Solution Report No. 42, 12 August 2021; hereinafter, “Practical Solution Report No. 42”).」
The Company continues the transition from the consolidated taxation system to the group tax sharing system and the related treatment of corporate income taxes and tax effect accounting based on Practical Solution Report No. 42. - FY2023-Q2RestatedAnnual report
「Our company and its domestic consolidated subsidiaries changed from the consolidated taxation system to the group relief system from the first-quarter consolidated accounting period.」
The Company continues the transition from the consolidated taxation system to the group tax sharing system and the related treatment of corporate income taxes and tax effect accounting. - FY2023-Q1AchievedAnnual report
「The company and its domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group aggregation system from the beginning of the first quarter of the current consolidated fiscal year. Accordingly, the accounting treatment and disclosures for corporate income taxes, local corporate taxes and tax-effect accounting are conducted in accordance with the Practical Solution on Accounting and Disclosure under the Group Aggregation System (Practical Issues Task Force Report No. 42, 12 August 2021; hereinafter, “Practical Issues Task Force Report No. 42”).」
From the beginning of the current first-quarter consolidated accounting period, the Company implemented the transition to the group tax sharing system and adopted the treatment of related corporate income taxes and tax effect accounting prescribed in Practical Solution Report No. 42. - FY2022-Q2RestatedAnnual report
「The Company and its domestic consolidated subsidiaries base their treatment on the provisions of the tax laws before the amendments with respect to the transition to the group tax sharing system and items for which the single-company taxation system was reviewed in conjunction with that transition.」
The Company continues to calculate deferred tax assets and liabilities based on the tax laws before the amendments in connection with the transition to the group tax sharing system. - FY2022-Q1First statedAnnual report
「The Company and its domestic consolidated subsidiaries have applied the treatment under Paragraph 3 of Practical Solution Report No. 39, 'Accounting Treatment for the Application of Tax Effect Accounting in Transition from the Consolidated Taxation System to the Group Tax Sharing System' (31 March 2020), with respect to 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 items for which the single-company taxation system was reviewed in conjunction with that transition. Accordingly, they have not applied Paragraph 44 of the Guidance on Implementing Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), and the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of the tax laws before the amendments.」
The Company described the treatment of calculating deferred tax assets and liabilities based on the tax laws before the amendments in connection with the transition to the group tax sharing system.