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Corporation in Japan or branch in Japan

To ascertain the residency of a company for tax purposes, Japan deploy the “head office or main office place”, not the “effective place of management” concept. A Japanese company is known as a company whose head office or main office is located in Japan in the tax...
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Permanent Establishments (PE) in Japan

Even though there is no a registered corporation or branch in Japan, it can be evaluate as having PE in Japan in certain prospect. The Japanese Corporation Tax Law provides the following definition of a PE for Japanese tax Purposes. (A) Fixed Place PE Branch factory...
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Treatment of Excess Tax Losses in Japan

1. Tax Losses Carry-forward Loss carry forward refers to an accounting technique that applies the current year’s net operating losses to future years’ profits to reduce tax liability and track profits accurately. Where a tax loss is realized in a given tax...
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Taxable Year of Companies in Japan

In Japan, the government’s financial year runs from 1 April to 31 March. The fiscal year is represented by the calendar year in which the period begins, followed by the word “nendo”. For example the fiscal year from 1 April 2016 to 31 March 2017 is...
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Publication on August 3, 2016

Article written by our president was published in accounting magazine (Kaikeijin-course) in September 2016. He mentioned to accountants in Japan how to establish and manage accounting firm. Accounting magazine (Kaikeijin-course)...
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Classifications of Taxpayers in Japan

Residency status of an individual will determine whether an individual is subject to tax liability of income tax and special income tax for reconstruction. Residents, non-residents, and non-permanent residents are the three types of residency status for tax purpose....
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Types of Penalty in Japan

Penalty will be imposed if a taxpayer fails to file tax return by the statutory due date or fails to pay tax by the due date of tax payment. Following are types of penalty. 1. Delinquent Tax: Tax imposed if the principal tax is paid after the statutory due date. It is...
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