Tax Academy introduction: Preview video transcript

Basics of Japanese tax law for corporations, Part I

This training contains two sections.

The first, Japanese tax law for corporations will provide an overview of the Japanese legal and accounting framework that is the foundation for the Japanese tax framework.

The second section of the training will provide an overview of the various different kinds of corporate income taxes both national and local.

Japanese tax law for corporations

Interaction with other laws
Laws governing corporations

This slide shows an overview of some selected key laws that govern corporations.

The Companies Act, together with some subordinate regulations, sets out the basic principles that a corporation must abide by. This includes the rights and the obligations of management, and corporate organs, such as the board of directors. The Companies Act also provides requirements for disclosure of information.

Japanese Corporate Taxes

Overview of Corporate Tax

Corporate tax returns and payments are due within two months of the end of the company’s fiscal period, although it is possible to apply for one month extension to the filing deadline, and most companies apply this extension. 

There are two types of tax return in Japan, a white form and a blue form. The blue form allows certain additional rights to the taxpayer, including the ability to carry forward tax losses and other rights relating to tax audits. 

An application must be submitted to use the blue form tax return, and the application should be submitted within three months of the establishment of the Japanese company, or by the first fiscal closing date, if earlier.

*This preview video is an excerpt from the lecture.

How to start the course and make a payment

For those who applied individually:
Please kindly transfer the course fees to the designated account as indicated in the email. Once the payment is confirmed, we will send you the URL and password for accessing the course. When you receive the URL, you will be able to start the course.

For those who work for overseas corporations or are overseas residents:
Please be advised that the process of issuing invoices may take additional time, as it includes confirming the tax treatment in your country of residence. We appreciate your understanding in this matter.