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Remote working in Japan

January 18 2017 Other

What is Remote working? We can work anywhere, like you are working in an office by logging in on any device, using the cloud software . Working remotely with you Just like how Receipt Bank changed the usual working process by ceasing the need for client visits for...

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Foreign tax credits – documents to be submitted in Japan

January 9 2017 Corporate tax

In case that a company has transactions with foreign group companies, the company must bind and secure to its corporate tax return producing information on the foreign group company and details of the transactions as listed below;      1.Information about foreign...

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Simplified calculation method of consumption tax in Japan

January 6 2017 Consumption tax

A simplified calculation method, as shown on the table below is appropriate to both individual and company that amount of taxable sales (->domestic taxable sales and export sales) for the base period was JPY50 million or less. They must present notification to tax...

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Taxable period of consumption tax in Japan

January 5 2017 Consumption tax

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...

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Consumption tax in Japan

January 4 2017 Consumption tax

Taxable base of consumption tax in Japan For a domestic taxable transaction, the taxable base of consumption tax is the consideration for the transaction. In terms of import taxable transactions, the value or worth of the imported goods for customs duty purposes plus...

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Tax rate on individual income tax in Japan

January 3 2017 Individual income tax

The following progressive tax is applied to net individual income minus allowable deductions. 1.National income tax Taxable income (JPY) Tax rate Deduction (JPY) From Less than – 1,950,000 5% – 1,950,000 3,300,000 10% 97,500 3,300,000 6,950,000 20% 427,500...

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Excise duty in Japan

December 22 2016 Other

There is an excise duty in Japan. For instance, gasoline, tobacco and liquor etc. are subject to excise tax in Japan.

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Deductible tax and non-deductible tax in Japan

December 21 2016 Corporate tax

Deductible tax Corporate tax, prefectural and municipal inhabitant taxes, local corporate tax, interest on delinquent tax, penalty etc. are not deductible in terms of taxation in Japan.   Non-deductible tax On the other hand, business tax and special local corporate...

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Devaluation loss in Japan

December 20 2016 Corporate tax

Even though there are a write-down of assets or write-down to market value in the case of damage because of disaster or obsolescence of assets such as fixed assets and inventories, we are not allowed to make the loss deductible in terms of taxation in Japan.

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Stock option in Japan

December 19 2016 Corporate tax

If a company issues stock options in compensation for services will be deductible at the timing when individual income tax is imposed on the income by stock options. If the stock option is non-qualified, the individual income is incurs at the stock option. If the...

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