Tag Archives: japan

Changes on the way for Japan’s cultural property law

Posted on: July 19, 2018 by Makoto Shimada

On 1st June 2018, the Kokkai, the National Diet of Japan, enacted the Substantial Amendment to the Law for the Protection of Cultural Property. The new Act will come into force on 1st April 2019. Under the 1950 Law for the Protection of Cultural Properties, cultural property with historical or artistic value is selected by the government […]

Austria joins UNESCO 1970 Convention

Posted on: August 2, 2015 by Ruth Redmond-Cooper

Just two weeks ago Austria ratified the UNESCO 1970 Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. This brings the tally of States Parties to the Convention to an impressive total of 129 (out of 193 countries in the world). The non-ratifying States include mainly those of South-East […]

Artworks now considered depreciable assets in Japan

Posted on: March 25, 2015 by Makoto Shimada

Over the last couple of months, Japanese companies have been flocking to galleries to purchase inexpensive artworks. This trend is a result of a significant governmental change in relation to taxation policy which was adopted from January 2015. According to the newly amended Corporate and Income Tax Law Interpretive Regulations announced by the National Tax […]