Necessary Information for Tax Returns for Sole Proprietors in Japan

【Koshida Accounting Firm Column Date:

“To be prepared is half the victory.” ― Miguel de Cervantes

 

Information

 

 

Hello, my name is Taisei Koshida, and I am a certified public accountant and tax accountant.

 

I aim to assist non-Japanese business owners who need help with reading or writing in Japanese. If you find the Japanese tax return system challenging, I can help you with your tax filings.

 

When you want to submit your tax returns, you must collect the information below.

 

1. Financial Information

First, you must figure out your business’s annual sales, costs, expenses, and profit. It is not essential to use accounting software. However, if you prepare it with double-entry bookkeeping with the software, you can deduct 650,000 yen from your profit as Blue Form Deduction. If it is not done, you can deduct 100,000 yen. Both cases are if you have already submitted in advance notification for selecting Blue Form to the tax office.

 

If you want more information on Blue Form Tax, please look at the following.

https://kotsicpafirm.com/filing-tax-returns-in-japan-importance-of-blue-form-submission-and-deadline-compliance/

 

 

2. Personal Information of a Taxpayer and Iis Dependents

(1) Basic Information of The Taxpayer

1. Family Name
2. First Name
3. Birth date
4. Sex
5. Numbers in My Number System
6. Phone Number: Mobile phones accepted
7. Home Adress
8. Office Adress
9. Business Name

 

(2) Basic Information of Dependents

If you take a deduction of your family members, the information above (1)1-4 is necessary for the deduction.

The criteria for claiming parents as dependents is the folloing.

https://kotsicpafirm.com/criteria-for-claiming-parents-as-dependents-for-tax-deduction/

 

(3) Information for Deduction

If you deduct National Insurance or something, the following information is necessary.

・The certificate for deduction of National Health Insurance
・The certificate for the deduction of National Pension; If you can’t find it, it is allowed to calculate annual payments.
・The certificate for deduction of Private life insurance
・The certificate for deduction of earthquake insurance

 

(4) Information for Confirmation of the Type of Resident Status

You must submit the above document before submitting tax returns if you are a foreign person.

 

 

Our accounting and tax office has been actively assisting foreign business owners in Japan with accounting and tax matters. Also, not only in the tax and accounting field, our office can support your business in Japan in the fields of visa, registration, social insurance, and law by networking with specialists. Plus, we have networked with specialists in web marketing, building websites, and business consulting suitable for Japanese customers. All services are provided in English. Please feel free to reach out to us through the inquiry form.