Directors or owners of small companies, as well as sole-proprietors who are enrolled in the Mutual Aid Pension System may claim those contributions as deduction from their taxable income at the end of the year.
The amount of the contributions is between 1,000 yen and 70, 000 yen per month. You can choose the amount that you are comfortable with and then you can change it later on if necessary.
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.
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