The May 18, 2019 Tokyo Activities Committee meeting held in Shibuya saw Steven Mayeda and Naotaka Midori of Tokyo Zeikei Tax Services give a comprehensive rundown of the basics of filing tax returns in Japan and outline a number of tax-saving strategies.
The two-part presentation proceeded with each topic discussed in English, followed by a summary in Japanese. Some of the subjects covered by the presenters were as follows:
- Who has to file?
- When is foreign earned income exempt?
- What is the ceiling for tax exemption on inheritances brought into Japan?
- What are the key dates for taxation purposes?
- What are the penalties for non-filing or evasion?
- Do I have to pay or collect consumption tax, and what is the filing date?
- Different types of revenue.
- What to do about withholding tax.
- Deductions, deductions, and more deductions!
- Furusato Nozei.
- Residence tax: when do I pay?
- Tax-saving strategies—ensuring that you gain the most benefit from your expenses.
- What is the blue filer deduction? Benefits and drawbacks.
- Advantages and disadvantages of incorporation.
- And much more……
Questions constantly flowed during the presentation from the twenty attendees, showing the huge demand for this kind of information. A lively networking session followed at the nearby Irish pub Celts.
Thanks as usual to all our TAC volunteers, including Erica Kajiwara, Erika Ogihara, and Asako Shiokawa for ably running the event last Saturday.