Income earned from renting out property in Japan must be reported, and is taxable.
An effective method of reducing taxes on rental income is to claim all necessary expenses such as expenses to improve the property, damage insurance, maintenance fees, and depreciation.
All of these must be declared via a final income tax return which is due by March 15th.
For the preparation of the income tax return, please feel free to contact us.
Before the 2022 tax reform, a business who wants to apply the Electronic Book Preservation act had to obtain approval from the local tax office.
Last week, we talked about the foreign dependent deduction a little bit. Now let’s see what kind of documents are needed when claiming this deduction.
Company establishment and accounting can be complicated in Japan.
Don’t do yourself, we’re here to help.
Get in touch for a free consultation.
Established in 1984,
Seventh Sense Group offers full-service accounting services including tax compliance, bookkeeping, payroll, and company establishment.