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  • 3) 5 important rules you should know about Japanese Consumption Tax

3) 5 important rules you should know about Japanese Consumption Tax

Posted on July 13, 2021 By user
Consumption Tax

Japanese Consumption Tax is tricky especially when you want to choose the tax filer status in order to get a refund while you can choose a non-filer status by default. Here are the 5 most important rules that you should know.
1) For SMEs and individuals, for the first 2 years, you can be exempt from the Japanese Consumption Tax,
2) If the sales were more than 10 million yen in the 2 years ago, you will automatically be a Consumption Tax filer. In another word, you can choose to be or not to be a Consumption Filer.
3) Once you choose to be a Consumption Tax filer, you will have to stay the same for at least 2 years. If you buy a fixed asset of more than 1 million yen (調整対象固定資産), you will have to stay the same for the next 2 years from the end of the year when the fixed asset was bought. That means you will have to stay as a consumption tax filer for at least 3 years if you purchase one in the first year. If you purchase a fixed asset of more than 10 million yen (高額特定資産) while you are a tax filer and using Standard Method (I will explain it later), you will stay as a consumption tax filer for 3 years include the year that the asset was bought.
4) If both salary and taxable sales (domestic sales and export) in the first 6 months of a fiscal year are more than 10 million yen, you will be automatically a taxpayer of Consumption tax.
5) Simplified Method. You can choose Simplified Method (see the explanation for Simplified Method) if the sales in the year that is 2 years ago were under 50 million yen. Once you choose it, you will have to use the Simplified Method for the 2 consecutive years.

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