202004.20
0

Tax Relief Measures Part of Emergency Economic Measures in Response to COVID-19~Exceptions to the Tax Payment Deferral System・Refund from Carryback of Losses・Tax System for Capital Investments made by SMEs for Teleworking, etc.~

Introduction In response to the spread of COVID-19, the Japanese Cabinet approved emergency economic stimulus measures amounting to 117.1 trillion JPY (48.4 trillion JPY in fiscal expenditure), as well as “Taxation Measures Part of the Emergency Economic Measures to Cope with COVID-19”. These support measures, as well as the related bills were enacted, promulgated, and…

Due Date of Corporate Taxes Etc.
202003.10
0

Due Date of Corporate Taxes Etc.

Please tell me about the filing schedule for a Japanese corporation’s corporate taxes, etc. Corporate tax, corporate business tax, corporate resident tax, consumption tax and establishment tax are due two months after the closing date. In addition, the filing deadline for corporate tax, corporate business tax and corporate resident tax can be extended for one…

Summary of the Tax Treaty
202003.03
0

Summary of the Tax Treaty

Please tell me about the tax treaty. And what countries have Japan entered into tax treaties with? The tax treaty is a treaty relating to taxation with the purpose of contributing to the promotion of a sound investment-economic exchange between two countries through the adjustment of double taxation and tax evasion and measures against tax…

Notes on Planning Tax Measures
202002.28
0

Notes on Planning Tax Measures

What do I need to prepare or take note of regarding tax saving measures before establishing a company? It is important to be aware of the following: (1) capital amount, (2) fiscal year, and (3) establishment cost and start-up cost. ★ Explanation ★ 1. Capital Amount Although the amount of capital will be considered before…

Corporate and Individual Tax Rates
202002.21
0

Corporate and Individual Tax Rates

What is the income tax rate for corporations and individuals in Japan? Corporate tax is approximately 30% under an effective tax rate base and personal income tax is around 0% to 55%. ★ Explanation ★ 1. Taxes on Corporate Taxable Income In Japan, taxes on corporate income are corporation tax, local corporation special tax, business…

Outline of the FY 2020 Tax Reform
202001.20
0

Outline of the FY 2020 Tax Reform

Introduction On December 12, 2019, the Outline of the FY 2020 (Reiwa 2) Tax Reform was released. Included in the Outline are tax reforms that come from different perspectives. Reforms with the goal of realizing sustainable economic growth in mind include measures on open-innovation activities, measures to encourage investments and wage increases, revisions to the…

The Individual Number Card: Now, and Beyond
201912.20
0

The Individual Number Card: Now, and Beyond

Introduction The Individual Number System, which was introduced in October 2015, began later issuing the Individual Number Cards starting January the following year. In the span of four years since then, however, no more than 15% of Japan’s population has been issued their Individual Number Cards (as of November 2019 according to the Ministry of…

Reduced Consumption Tax Rates and the Point Reward Project for Cashless Payments
201911.20
0

Reduced Consumption Tax Rates and the Point Reward Project for Cashless Payments

Introduction It has been quite some time already since Japan increased its consumption tax rates to 10% starting October 1, 2019. Together with the increase in tax rates is the introduction of the “Reduced Consumption Tax System” and the “Point Reward Project for Cashless Payments”. With these two new schemes, consumer’s purchasing patterns can vary,…

Restoration Taxes in Japan
201802.25
0

Restoration Taxes in Japan

Restoration Tax or Surtax is an addition tax imposed on companies in order to recover from big natural disasters, help cover the costs of reconstruction. These days corporate tax rate was lowered by 35,64% and Government Tax Commission is discussing the further reduction of Japanese corporate tax. In addition to corporate tax reduction, in order…

Inhabitant Taxes in Japan
201802.18
0

Inhabitant Taxes in Japan

Today we will be addressing FAQs concerning inhabitant taxes in Japan. Q : Who is liable to pay inhabitant or residence tax? A : Inhabitant (or residence) taxes are paid in Japan only if you are a resident*. Nonresidents don’t need to pay this tax. *You don’t need to pay residence taxes if you are…