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2023/11/19 Article

Final tax return in Japan

Hello, this is Mitsui Fudosan Realty.
In this article, we will explain a final tax return in Japan.

The income tax return is a process where a taxpayer calculates the amount of income earned during a year from January 1st to December 31st and the amount of income tax, and adjusts the excess or deficiency if there is tax withheld at source or estimated tax prepayment.
You must file a final tax return between February 16 and March 15 of the following year.

In the following cases, you must file a final tax return.
- When you sold your real estate property
- When you purchased a real estate property using housing loan, and you want to get tax deduction
- When you got rental income from your real estate property

To file a final tax return, we recommend you appoint a Tax Agent (“Nouzei Kanrinin”, 納税管理人) to do it for you.
When you appoint a Tax Agent, you must submit a “Notification of Tax Agent for income tax / consumption tax” to the district director of the tax office which has jurisdiction over your place for tax payment.

Please rely on Mitsui Fudosan Realty for assisting you in either purchasing or selling properties in Japan.

If you are interested in finding out more, please refer to the link below.