Don’t forget to submit “Application Form for Approval of Filing Blue Return” when you establish a corporation in Japan

If you establish a corporation in Japan, you will submit some notification forms to the tax office which have jurisdiction over a corporate’s location.

One of those forms is an “Application Form for Approval of Filing Blue Return”.

There are some benefits to submit it.

I’ll explain the following.

Benefits

1. Your corporation can carry forward tax loss to ten years.
   
   It is possible to offset profits by adopting tax loss deduction.
   
   This is effective when a corporation make a profit after tax loss occur.
2. Your corporation can carry back tax loss to previous year.
   
   It is effective when a corporation already paid tax in previous year.

※Caution
A corporation whose share capital is over one hundred million yen is restricted to adapt the benefits above.

Required

If your corporation apply blue-form tax return filing status, it is necessary to make and save the ledger.

How to submit

Your corporation will submit “Application Form for Approval of Filing Blue Return” to the tax office which have jurisdiction over a corporate’s location by submission deadline below.
(Click here for example.)

Deadline is following date whichever comes first.

1. The date after 3 months have passed since the date of establishment.

2. The end date of fiscal year.

Conclusion

You can save tax through benefits I write above if your company have the status of Blue Return.

If you have any questions, please feel free to contact us.

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都築太郎税理士事務所/Tsuzuki Taro Tax Accountant Office

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