7/82 TAX--ENTERTAINMENT DEDUCTIONS REDUCED FOR JAPANESE CORPORATIONS

The entertainment deduction was reduced for Japanese corporations. Previously corporations with paid in capital of 10 million yen or less could deduct from income 4 million yen per year, corporations with paid in capital of 10 to 50 million yen could deduct 3 million yen and corporations with paid in capital of 50 million yen to 100 million could deduct 2 million yen. 90% of any amounts above that were not recognized as deductible and were subject to taxation. Now however, that ratio will be increased to 100%

THE JAPAN LAW LETTER July, 1982. By Roderick Seeman