Japan enacts 2023 tax reform bill including legislation to implement IIR to align with OECD BEPS 2.0 Pillar Two

Executive summary

Japan’s 2023 tax reform bill (the Bill) was enacted almost immediately after passing the Japanese Diet on 28 March 2023. Recall that Japan’s 2023 tax reform outline (the Outline)¹ was announced on 16 December 2022, and then submitted as draft legislation (the Legislation)^{2, 3} to the …