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[10PacRimLPolyJ543] Tax Treatments for Distressed Bank Loans: A Comparative Study of the United States and Japanese Legal Systems

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dc.contributor.author Ota, Yo
dc.date.accessioned 2011-02-15T18:21:32Z
dc.date.available 2011-02-15T18:21:32Z
dc.date.issued 2001-05
dc.identifier.citation 10 Pac. Rim L. & Pol'y J. 543 (2001) en_US
dc.identifier.issn 1066-8632
dc.identifier.uri http://hdl.handle.net/1773.1/793
dc.description.abstract Yo Ota is Associate Senior Counsellor at the Office of Senior Counsel, Civil Affairs Bureau, Ministry of Justice (Tokyo, Japan). LL.B. University of Tokyo, Faculty of Law, 1991; LL.M. Harvard Law School 2000. Admitted to practice law in Japan (1993) and the State of New York (2001). Nishimura & Partners (Tokyo, Japan), 1993-99; Debevoise & Plimpton (New York), 2000-01. Abstract: A number of commentators in Japan have argued that tax treatments for distressed bank loans seem to be more generous in Japan than in the United States, and that, in contrast to Japan, the United States does not allow any deduction for loan loss reserves. However, such arguments have not been based upon a careful analysis of case law and actual tax authority practices. This Article presents a comparative study of the tax treatments for distressed bank loans in the United States and Japan. It analyzes corporate income tax legislation, administrative practices and case law in the 1980s and 1990s and explores several major differences between the United States and Japan with respect to the treatment of distressed bank loans. Based on this analysis, this Article challenges the traditional view of comparative tax treatments in these two countries and contends that Japanese tax treatments provide insufficient incentives for banks to expedite the disposal of distressed loans. Finally, this Article suggests possible legislative approaches for establishing a workable legal scheme that provides more economically neutral and internationally harmonized tax treatments for distressed bank loans in Japan. en_US
dc.language.iso en_US en_US
dc.publisher Seattle: Pacific Rim Law & Policy Journal, University of Washington School of Law en_US
dc.subject Article en_US
dc.title [10PacRimLPolyJ543] Tax Treatments for Distressed Bank Loans: A Comparative Study of the United States and Japanese Legal Systems en_US
dc.type Article en_US
dc.rights.holder Copyright 2001 by Pacific Rim Law & Policy Association en_US

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