Introduction Due to the effects of the COVID-19 pandemic on the economy, many companies have resorted to reducing their officers’ remuneration to offset any decrease in sales, as well as to ensure that their other employees also remain stable. On the other hand, other companies have done the opposite, increasing their officers’ remuneration to compensate…
Since Abenomics was launched in 2013, Prime Minister Shinzo Abe’s economic policies represented by monetary easing, fiscal stimulus, and structural reforms, the Japanese economy was revived from Japan’s so-called ‘lost decades’ and millions of jobs were created. Along with the economic recovery, M&A activities have increased year-on-year for the past eight years since 2012. This…
Introduction On April 30, the Japanese government approved an emergency economic response plan to address the COVID-19 situation in Japan. Continuing from the previous article, we will look at the remaining tax relief measures. Specific details regarding tax relief measures under the emergency economic measures as response to COVID-19 Among the 12 tax measures under…
After establishing a company or branch in Japan, I would like to open a bank account under the company’s name. Please tell me about the things I need for opening a bank account and the points that I need to take note of. The required documents for opening a Japanese bank account vary from bank…
I want to open a restaurant in Japan. What kind of permits or licenses will I need to secure to operate my business? To be able to operate a food establishment such as restaurant in Japan, the establishment must receive a food establishment permit from a public health center and submit a notice to the…
I heard that there are businesses in Japan that require government licenses. What are these documents? A government license refers to documentation issued by administrative bodies such as the police station, health center, prefectural government, etc., which is a requirement to be able to operate specific kinds of businesses. ★ Explanation ★ 1. Government licenses…
Tell me about “social security agreements”. For foreign nationals transferring employment to Japan, there is a need to register under the social security systems both their of country of origin and Japan. To eliminate dual social security transactions, countries enter into what are called “social security agreements” with each other. ★ Explanation ★ 1. Defining…
Please tell me about the procedures for social insurance (health insurance and welfare pension insurance). When a Japanese corporation or a Japanese branch office is a business that is covered by social insurance (health insurance and welfare pension insurance), new application notices for health insurance and welfare pension will be submitted to the relevant pension…
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…
Please tell me about the procedure for labor insurance (workers’ accident insurance, employment insurance). When work injury insurance applies to the Japanese company or branch office, you will need to submit a notification for the establishment of work related to work injury insurance to the appropriate labor standards monitoring office. Afterwards, you need to report…
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