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Like many countries, Japan's companies are obliged to withhold income tax from its employees upon making salary payments to them. The company will then have to pay the withholding tax no later than the 10th day of the next month following the month of paying salary. However, company with number of employee of ten (10) or less than ten persons can apply to pay the withholding income tax twice a year, which is as follows:
According to the new tax rule, a company will be allowed to pay the withholding income tax relating to Salary paid from July to December of this year by January 20 of the following year without having to apply for the extension of payment deadline.
The new tax rule will be applied to the income tax withheld from the salary, wage and retirement payment paid on or after from July 1, 2012.
