Deloitte Tohmatsu to manage SPC funds expanding integrated support services | Press Releases
1 October, 2024
Deloitte Tohmatsu Tax Co. (“DTTAX”, Chiyoda, Tokyo), a member of the Deloitte Tohmatsu Group, acquired the business of Akasaka International TAX &Co. (Minato-ku, Tokyo), a tax accounting firm specializing in fund administration, on October 1, 2024, to strengthen its structure to provide comprehensive support for fund administration, centering on special purpose company (SPC) business.
SPCs have the advantage of limiting risk by isolating assets from other investments and providing flexible funding for limited purposes. They may also be eligible for certain tax benefits and may be required to meet legal and regulatory requirements for some investments and transactions. As such, it is at the core of the Fund’s efforts to optimize asset management, overall management, and performance.
On the other hand, depending on the type and content of the investment target, such as real estate, aircraft, ships, containers, receivables, and mega solar power, various laws and regulations apply, and the operational burden is heavy, including notification, registration, and reporting, as well as dealing with increasingly complex compliance practices. In addition to Japanese language support, this is the biggest hurdle for foreign funds investing in Japan.
DTTAX will provide comprehensive administrative services to the SPC from its establishment through liquidation and dissolution.
- Establishment
Support for registration procedures, tax filing, opening of bank accounts, acting for directors, provision of registered addresses - Management
Negotiations with audit firms regarding legal affairs such as the sealing of contracts and the management of general meetings of shareholders, cash management such as bankbook management and cash flow monitoring, and audit response - Financial Accounting and Tax Compliance
Bookkeeping, preparation of financial statement, preparation and filling of corporate, local and consumption taxes, preparation of reports and financial announcements - liquidation and dissolution
Preparation and filing of tax reports, acting for registration procedures, closing of bank accounts, etc.
For 20 years, Akasaka International TAX &Co. has been providing comprehensive management services and tax preparation services to real estate funds and asset management companies, including REITs, hotels, and warehouses. In the case of an SPC established in Japan by a foreign fund, they have prepared reports, consolidated packages and public announcements in accordance with US-GAAP and IFRS.
On the other hand, DTTAX has the advantage of being able to grasp the latest situation, knowledge, and legal developments in Japan and overseas from the approximately 20,000 employees of the entire Deloitte Tohmatsu Group in Japan and supports operations including accounting process design and management. Also, there are plenty of members who can speak English.
By taking over the capabilities of Akasaka International TAX &Co., we will support high-quality and stable administrative work at SPC from its establishment through liquidation and dissolution.
Deloitte Tohmatsu Akasaka International Co., Ltd. (abbreviated as DTAI) was newly established to strengthen fund management practices.
[Overview of the new company]
Corporate Name: Deloitte Tohmatsu Akasaka International Co., Ltd.
Head Office : Akasaka Hinoki Bldg. 10-5 Akasaka 2, Minato-ku, Tokyo
Establishment : October 2024
Representative : Kei Maeda, Representative Director
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