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For a company in Japan, taxable period of consumption tax is the respective fiscal year and for an individual in Japan it is the calendar year. But upon election, instead of an annual basis, the taxable period may be on a quarterly basis and a monthly taxable period is also available.

 

1.Final tax return and tax payments

In a period of two months after the end of the taxable period, a taxpayer is obligated to file its final consumption tax return and pay tax due.

 

2. Interim tax returns and tax payments

A taxpayer who has not selected for a quarterly or monthly taxable period may be obligated to make interim payments based on the amount of the consumption tax payable for the previous taxable period as listed on the table below within 2 months after the end of each interim period.

 

Amount of the consumption tax payable for the previous taxable period

Payment frequency

Over JPY 60,952,300

Monthly basis

Over JPY 5,079,300 and less than JPY 60,952,300

Quarterly basis

Over JPY 609,500 and less than JPY 5,079,300

Semi-annual basis

Less than 609,500

No interim payment