Applying tax-effect accounting in connection with the transition to the group tax-sharing system
First written in FY2021-Q1. 5 of 8 entries say "Restated". Latest entry: FY2023-Q1.
- 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”).」
The company implemented the transition to the consolidated taxation system from the first quarter of the current consolidated fiscal year, rather than from the next consolidated fiscal year as previously planned. - FY2022AdvancedAnnual report
「The Company and its consolidated subsidiaries will transition from the consolidated taxation system to the group tax sharing system beginning with the next consolidated fiscal year. In addition, beginning on the first day of the next consolidated fiscal year, the Company plans to apply the Practical Solution on Accounting Treatment and Disclosure When Applying the Group Tax Sharing System (Practical Response Report No. 42, 12 August 2021), which prescribes the accounting treatment and disclosure for corporate tax, local corporate tax and tax effect accounting when applying the group tax sharing system.」
The company explicitly stated that it plans to transition to the consolidated taxation system from the next consolidated fiscal year and to apply Practical Response Report No. 42. - FY2022-Q3RestatedAnnual report
「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 matters for which the standalone taxation system was revised in connection with that transition, the Company and its domestic consolidated subsidiaries apply the treatment in Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, and do not apply Paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
In connection with the transition to the consolidated taxation system, the company has reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before the amendment. - FY2022-Q2RestatedAnnual report
「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 matters for which the standalone taxation system was revised in connection with that transition, the Company and its domestic consolidated subsidiaries apply the treatment in Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, and do not apply Paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
In connection with the transition to the consolidated taxation system, the company has reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before the amendment. - FY2022-Q1RestatedAnnual report
「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 matters for which the standalone taxation system was revised in connection with that transition, the Company and its domestic consolidated subsidiaries apply the treatment in Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, and do not apply Paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
In connection with the transition to the consolidated taxation system, the company has reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before the amendment. - FY2021-Q3RestatedAnnual report
「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 matters for which the standalone taxation system was revised in connection with that transition, the Company and its domestic consolidated subsidiaries apply the treatment in Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, and do not apply Paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
In connection with the transition to the consolidated taxation system, the company has reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before the amendment. - FY2021-Q2RestatedAnnual report
「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 matters for which the standalone taxation system was revised in connection with that transition, the Company and its domestic consolidated subsidiaries apply the treatment in Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, and do not apply Paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
In connection with the transition to the consolidated taxation system, the company has reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before the amendment. - FY2021-Q1First statedAnnual report
「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 matters for which the standalone taxation system was revised in connection with that transition, the Company and its domestic consolidated subsidiaries apply the treatment in Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, and do not apply Paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
Regarding tax-effect accounting in connection with the transition to the consolidated taxation system, the company has disclosed for the first time that deferred tax assets and liabilities are calculated based on the provisions of the tax laws before the amendment, in accordance with the Practical Response Report.