2024/06/27 1 min read
Hometown Tax donation (Furusato Nozei) is a system that allows individuals to receive income tax and inhabitant tax deductions for donations made to local governments of their choice. In addition, since the donor can receive return gifts from the recipient local government, the number and amount of such donations have been increasing in recent years attracting more and more attention.
This article explains how it works and how the tax amount is reduced.
FY2026 JCT Reform Update: Extended 8-Year Transitional Deduction Schedule and Reduced JPY 100M Cap for Non-Registered Supplier Purchases
Under Japan’s consumption tax rules, input tax credits for "adjustable fixed assets" are credited upon acquisition. However, if the use of assets changes within three years, an adjustment is required.
Revenue recognition is a key performance metric affecting financial figures. This article explores examples of differences between accounting and tax treatment in Japan.
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