Yen proposed to be added as an available functional currency

Finance has provided a comfort letter recommending that the yen be added (to the U.S. and Australian dollars, euro and pound) as a “qualifying currency” in s. 261(1), effective for taxation years beginning after 2019.

Neal Armstrong. Summary of 29 July 2019 Comfort Letter TL-23 entitled “Functional currency tax reporting - currency of Japan” under s. 261(1) – qualifying currency.