Προφίλ συναλλασσόμενης χώρας Ιαπωνία

Tax rates

Nature of the tax: Consumption tax
Tax rate: National consumption tax :4%
Calculated on the total amount of sales (excluding sales not subject to tax) and once the total amount of purchases subject to tax has been deducted.

Local consumption tax : 1%
Calculated on the total amount of consumption tax due.
Reduced tax rate: None
Other consumption taxes: Other consumption taxes are levied at the national level and the local level: liquor tax, tobacco tax, gasoline tax, aviation fuel tax, liquefied petroleum gas tax, petroleum tax, motor vehicle tax, etc.

Corporation tax	30% of the profit for companies of more than 100 million JPY
Local taxes	Corporation inhabitants tax and corporation enterprise tax vary according to the locality
Effective taxation	41% all inclusive (46% in the Tokyo metropolitan region)

Tax rate for foreign companies: Resident companies are taxed on their worldwide income; non-resident companies are taxed only on Japanese-source income. A company that has its principal or main office in Japan is considered to be resident.
Capital gains taxation: Taxed at the corporate tax rate.
Capital gains tax on land transfers is subject to a specific method of calculation.
Main allowable deductions and tax credit: Bad debt, repairs, natural disasters, charitable donation, R&D expenses, etc.
Other corporate taxes: Stamp tax, registration and license tax.

Personal tax rate	Up to 40% (2007 scale) Click here to visualize the method of calculation.
Local taxes	Individual inhabitants tax and individual enterprise tax Vary according to the locality
Effective taxation	Up to 50%

Allowable deductions and tax credit: Dependent spouse, young children, disabled and elderly dependents, social insurance, etc.
Special expatriate tax regime: No special expatriate tax regime in Japan.

Countries with whom a double taxation treaty have been signed: See the list of double Taxation Agreements; See the list of Japanese Tax Treaties.
Withholding taxes: Dividends: 20%, Interest: 15/20%, Royalties: 20%
Bilateral agreement

Tax Authorities: National Tax Agency Japan.
Other domestic resources: Japanese tax system as seen by the Tax Bureau Ministry of Finance Japan
Income tax guide for foreigners

Tax year: From January 1st to December 31st
Accounting standards: The Japanese “Generally Accepted Accounting Principles (GAAP)” is made up of:
- Business Accounting Principles issued by the Business Accounting Council (BAC);
- Accounting Standards issued by the Accounting Standards Board of Japan (ASBJ);
- Practical Guidelines issued by the JICPA.
Accounting regulation bodies: BAC
ASBJ
JICPA
FASF
Accounting reports: The Commercial code gives the required regulations for a Limited Liability Company (Kabushiki Kaisha) to prepare an annual report and appendix.The annual report must be submitted to the general assembly of shareholders and must include the balance sheet and the income statement.
Publication requirements: Only companies quoted in the stock-exchange have to publish their accounts. According to the law of transferable securities and the law of exchange, registrants must file to the Ministry of Finance the annual and biannual statement reports, as well as a copy in the foreign exchange markets where transferable securities are registered.
Professional accountancy bodies: JICPA
Tokyo certified public tax accountants’ association
Certification and auditing: Board of Audit of Japan
Japan Corporate Auditors Association (JCAA)
Certified Public accountants and auditing oversight board
Accounting news: Accounting news in Japan
Accounting diary in Japan
Japan accounting news on einnews.com