The annual filing of the corporate tax return has to be done within 2 months of the last day of the fiscal year at the taxation office where the company has its registered business address. The final financial figures in regard to the corporate earnings and the taxable amounts need to be correctly calculated and require the approval from the majority of the votes casted at the general meeting of the shareholders of the company.

Source: Rob Van Nylen, Accounting and Taxes (EU-Japan Centre for Industrial Cooperation Report)

 

White and Blue Form Tax Returns


Based upon the self-assessment principle and aiming to improve accurate tax returns, Japan allows corporations to use tax return based upon the blue form (white form is the default standard system), allowing the taxpayer to benefit from some procedural and administrative advantages. Blue form filing will require approval from the head of the local tax office meaning also that this privileged status can be revoked anytime in case the taxpayer is not keeping this accounting books properly.

Source: Rob Van Nylen, Accounting and Taxes (EU-Japan Centre for Industrial Cooperation Report)

Interim tax return and tax payment 

Companies whose taxable years exceed six months must file an interim tax return within two months from the day marking the end of the first six months of the taxable year.

If the amount of the annual Corporation tax for the preceding fiscal year multiplied by six and divided by the number of months of the preceding fiscal year is JPY 100 000 or less, the company is generally not required to file interim tax return

Final tax return and tax payment

Companies must file a final tax return for Corporation tax, Inhabitant tax and Enterprise tax on their income within two months from the day following the last day of each taxable year, whether the income is positive or not. The calculated tax must also be paid within this period.

A company’s final return must be accompanied by the company’s balance sheet, profit and loss statement, statement of changes in net assets, details of accounts, statement of outline of business activities and, depending upon circumstances, certain other prescribed documents.

Taxpayers who have filed returns with excessive tax amounts may request, no later than five years from the statutory due date of tax filing, that the district director of the tax office within their jurisdiction reassess their tax amount.

EU-Japan Centre News

More
30 YEARS OF INDUSTRIAL COOPERATION - RESPONDING TO THE CHANGING NEEDS For the past three decades,...
The EU-Japan Centre in Tokyo is regularly publishing "Industry and Policy News" from various...
The Centre is inviting applications for a 6 months in-house fellowship scheme in Japan, targeting...

Events

More
Europe
14/11/2017
With a view to helping raise industrial competitiveness, the EU-Japan Centre has organised in-depth visits to world class European plants since 2013. During the visits, participants will learn about...
Japan
30/11/2017
'Market opportunities for EU agribusinesses in the context of the EU-Japan EPA' by William Fournel (Minerva fellow participant) on 30 November 2017 30-11-17 | 10:30 - 11:30 AM CET This webinar...

Library

More
Brief Japan Industrial Reports ADDITIONAL REPORTS AVAILABLE on www....
October 2017 Japanese Industry and Policy News Topics covered in the October issue: LEGISLATION...
September 2017 Japanese Industry and Policy News Topics covered in the September issue:...
EU-Japan Newsletter, Issue #59 October 2017. The Centre is pleased to...