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

Tax Schedule in Japan

July 10th Filing for unemployee insurance, if you have employees (excluding directors).
July 10th Filing for social insurance, if the company joins the social insurance shceme.
July 10th Due date to pay withholding tax for the 1st half of the calendar year
Dec 31st Annual tax adjustment for withholding tax of employee salaries. A company has to calculate income tax for each employees based on the factors (e.g. number of dependants, medical expenses during the year) and refund to employees if withheld income tax during the year is bigger than the recalculated amount or withhold more if the withheld amount is less. Because the tax rate table for withholding tax/salary is designed so that the withholding tax deducted from salaries during the year adds up to be bigger than income tax amount that each employee has to pay, the company has to refund the tax in most of the cases to employees.
January 20th Due date to pay withholding tax for the 2nd half of the calendar year (after the adjustment).
January 31st 1. Deadline for the Yearly Regulatory Reporting of what you have paid as salary, fee, rent, etc during the last year. The report has to include information of each employee. This report has to be submitted to the tax office of your jurisdiction.
January 31st 2. Sending salary information to each reginal government/ward office for resident tax.
January 31st 3. Asset Tax reporting has to be made to the municipal government (e.g. Tokyo Metropolitan Government.) Minimum tax point is 1.5 million yen. There is no tax obligation if it is less than that. The tax rate is 1.4% of the book value after depreciation.
2 months after book closing 1. National Corporate Tax, Municipal Corporate Tax and Enterprize Tax filing and its tax payments are required to be made withhin 2 months after the book closing. You can get extention of the deadline by submitting an applicaiton if you have certain reason (e.g. audit by accounting firm).
2 months after book closing 2. Consumption tax filing has to be filed within two months after the book closing.

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