Some changes concerning Individual income tax

Wednesday, October 7, 2011 10:12


Period of filing
The period for filing income tax return for the preceding year which was from 16 Feb to 15 Mar of the following year is now changed to 1 Jan – 15 Mar. The change was made for people who file tax returns in order to get a tax refund can procure the cash earlier. People who file tax returns for paying tax are remained subject to the initial filing period which is from 16 Feb to 15 Mar of the following year.

Type of filing tax return

Period of tax filing

Filing tax return for paying income tax

16 Feb - 15 Mar

Filing tax return for receiving tax refund

1 Jan – 15 Mar

Special credit for e-Filing
One who e-files his/her income tax is eligible to claim a special credit at an amount of JPY4,000 for year 2011 (before was JPY5,000), JPY 3,000 for year 2012. The credit is applicable for two more years.

Disclaimer
The publication contains information in summary form and is therefore intended for general guidance only.  This publication is not intended as legal, accounting or other professional advice and should not be relied upon as such.  If legal, accounting or other professional advice or expert assistance is required, the services of a competent professional should be sought.  Neither Reanda nor any related entity shall have any liability to any person or entity that relies on the information contained in this publication.