Solid Japan would like to send our thoughts to all of those who have suffered during the tragic events in the Tohoku and surrounding area. Donations to the relief efforts can be made to the Red Cross at www.jrc.or.jp/english/relief/l4/Vcms4_00002070.html.
Due to limits on electricity capacity, we encourage our readers to conserve electricity where possible.
Update on Reconstruction and Relief Efforts
Nearly JPY 120 billion has reportedly been collected by the Japanese Red Cross and other organizations for those stricken by the recent earthquake and tsunami. Donations continue to come from around the world. The most generous benefactor has been Softbank President Masayoshi Son who has pledged JPY 10 billion of his own money to the cause along with his annual salary until retirement to orphans of the disasters.
The international community has also generously sent food, supplies, equipment and rescue workers to support Japan in its relief efforts. The US Military has been especially extolled for its support in all areas of disaster relief.
Construction of temporary housing for those staying in schools and other evacuation centers has begun with some to be ready this month. Evacuees will also be temporarily moving into the recently closed Akasaka Prince Hotel with many of the associated utility costs being paid by the Tokyo government.
Meanwhile, reports are that the Japanese government’s initial reconstruction budget will be JPY 3 trillion. Much of that amount will come from funds earmarked for pension contributions while the remaining amount will be reallocated from other previously planned projects.
Social Insurance Premiums Increase
A notice to HR managers and payroll administrators that social insurance premiums have risen from this month. Health insurance premiums have increased from 9.32% to 9.48% and the Long Term Care premium has risen from 1.50% to 1.51%. These are the percentages borne both by the employer and employee respectively.
For further information, please visit http://www.nenkin.go.jp/ and http://kyoukaikenpo.or.jp or please contact Solid Japan at firstname.lastname@example.org .
US Personal Income Tax Filing 2010 Service
Solid Japan would like to remind our American and American Green Card holder readers of the approaching 2010 US personal tax filing deadline. The deadline is April 18th but those living abroad are granted an automatic 2 month extension. It is important to note that extension is only for submitting the return and not for payment of taxes due. The payment due date remains April 18th.
For more details on US tax filing procedures and deadlines, please visit www.solidjapan.com/ustax or contact us at email@example.com to schedule a consultation with Solid Japan’s US CPA. You can also visit the IRS website at http://www.irs.gov/.
Japan Free Trade Agreements
Japan and India announced in February an FTA that will remove 94% of the tariffs on trade between the two nations. Once the agreement is put into the place, the elimination of the tariffs will occur over a 10 year period. With India’s recent economic growth, large growing middle class and projections to become one of the largest economies in the world, this is an important agreement for the future of Japanese exporters.
It was also announced that Japan and Canada have renewed studies for a bilateral trade agreement. While Japan’s industrial and production based economy and Canada’s resources appear to very complementary, the two nations have been unable to make progress past the research stages. The main sticking point has been the protection of Japan’s agriculture industry.
Solid Japan will be sponsoring the Tokyo Executives Business Networking Event on May 26th. For more information please visit www.tokyoexecutives.com.