みなと国際会計事務所 Accounting Intelligence blog by a CPA in Tokyo

みなと国際会計事務所 Accounting Intelligence blog by a CPA in Tokyo, tax tips, accounting, running business

Buying Japanese property by a foreign company and get refund of Consumption Tax

time 2015/08/21

You need to know that you will be able to claim refund of Japanese Consumption Tax but you need to meet certain requirements.

 

1) If You will buy a property through a foreign company, you need to submit a form to the tax office to become a “tax filer” of consumption tax BEFORE the end of your fiscal year during which you purchased the property. The default status for a foreign company is “exempt” of consumption tax, which means you will nether have to file consumption tax return and pay but nor get consumption tax back.

 

You can change the status to “tax filer” but you need to submit a form called “form to choose as tax filer” or 課税選択届出書 before the end of fiscal year.

Also you need to know that once you choose the status, you have to remain as a tax filer for next two years at least (later you can change the status and go back to be “non-tax filer” again.

 

Because the consumption tax rate is 8%, it should have big impact on your cash flow projection

 

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