We wish everyone a happy and healthy holiday season.
Please view past issues of our newsletters at www.solidjapan.com/category/newsletter.
Year-End Schedule
Please note the following closures during the holiday and year-end season:
Japanese public holiday for Showa Emperor’s Birthday – December 23rd
Major Japanese banks – December 31st – January 3rd
Government Offices- Legal Affairs, Tax Office, Hello Work, Pension & Labour Offices December 29th – January 3rd
Solid Japan – December 31st – January 3rd
Please plan to make any requests to our office in advance of the above days to prevent any delays or issues.
Year-end Tax Adjustment
A final reminder to all business owners and HR managers that they must prepare year-end tax adjustments for their employees for the December ending pay period. The adjustment will calculate the final tax owing to the government or the surplus of tax paid and owed back to the employee for the year.
Please note the following related to deductions for dependents in 2011:
1. Children up to the age of 15 are no longer eligible for the deduction of JPY 380,000
2. The deduction for children ages 15-19 are has been reduced to JPY 380,000
3. The deduction for dependents with disabilities has been reduced to JPY 400,000
Withholding Tax Payment
Small business owners should also be aware that January 10th is the due date for withholding taxes collected from the period of July to December. This benefit is usually only afforded to small businesses who apply in advance. For more information, please contact your payroll provider or Solid Japan at info@solidjapan.com.
Fixed Asset Report
This is a notice to all business owners that the fixed asset report is due by the final day of January. Generally fixed assets may be defined as assets with a value of JPY 100,000 or more. However, depending on the value of the fixed asset, its treatment will vary. Your tax advisor can help determine the treatment of your fixed assets for tax purposes. Or for further information please contact Solid Japan.
Thinking of starting a business in Hong Kong?
Tokyo Executives Business Mixer
Solid Japan will be sponsoring the Tokyo Executives Business Mixer on Thursday January 26th. More information is available at www.tokyoexecutives.com.