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Japan: Tax relief FAQs, other guidance implementing legislation (COVID-19)

Japan: Tax relief FAQs, other guidance (COVID-19)

Japan’s national tax agency released information and guidance following the enactment of new tax legislation (referred to in English as the “Emergency Economic Measure for COVID-19”) as passed by Japanese National Diet on 30 April 2020 and promulgated on the same day along with related cabinet orders and ministerial ordinances.

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Guidance posted on the tax agency’s website includes updated “frequently asked questions” (FAQs) concerning a grace period for remittances of tax payments, an application form, and an English language webpage.

Other guidance concerns the special rules for selection of “taxable company status” for consumption tax purposes. Other measures address the exemption from stamp duty on a contract for a special loan.

There are FAQs that relate to the COVID-19 relief available with respect to the tax return filing and tax payment procedures for corporation tax, local corporation tax, corporate consumption tax, and withholding tax. For individual taxpayers, there are FAQs concerning individual income tax, gift tax, and individual consumption tax.

Read a May 2020 report [PDF 338 KB] prepared by the KPMG member firm in Japan

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