Japanese Corporate Tax Schedule 16 Reports Compliance

Comply with the National Tax Agency's updated templates for the Japanese Corporate Tax Schedule 16 reports.

Here are the enhancements that have been implemented in the Schedule 16 reports for Japan:

1. Enabled display of Global Descriptive Flexfields (GDFs) captured through the Add Asset and Adjust Asset pages.
2. Updated report template reflects the revised ERA name.
3. Enhanced report output to include asset category descriptions.
4. Additional configuration support to include or exclude specific attributes based on reporting requirements.

Global attributes have been added to the Add Asset and Adjust Asset pages. These attributes now appear in the Schedule 16 report. You can populate the global descriptive flexfields using the File-Based Data Import (FBDI) template or the ADFdi spreadsheet.

In addition, the report templates have been updated to reflect the era name change. The Schedule 16 reports have also been enhanced to include the major category description. This description will now display in the relevant sections of the Schedule 16 reports, providing greater clarity and detail.

These fields have been deleted from the schedule 16(4) report to comply with the latest report template:

• Special_deprn_article
• Special_deprn_rate
• Special_deprn_amount
• Prior_carried_deficit_amount
• Sum_ceil_deprn
• Current_deficit_to_succeeding
• Current_deficit_amount
• Net_carry_to_succeeding
• Deficit_Carry_Over_Period
• Carried_forward_deficit_amount
• Lacked_special_deprn_merge

The Global Descriptive Flexfield (GDF) context values listed below are pre-seeded and will appear when the Asset Book currency is set to JPY. To enter data for these seeded context values, use the corresponding value sets to define and maintain the required values.