Tax incentives for reduction of rent for owners of buildings, etc. Government New Corona Measures April 17, 16:20
It is difficult to pay the rent at some restaurants and other places where sales have dropped due to the spread of the new coronavirus. The government has decided to introduce preferential treatment to lighten taxes and other burdens when rents are exempted or reduced in order to encourage owners of restaurants and other buildings to respond flexibly.
As a result, when owners of buildings reduce or exempt the payment of rent to tenants such as restaurants, local taxes such as corporate tax and property taxes, as well as social insurance premiums We will delay payment for one year.
As a result, for example, if the company has a settlement of accounts for the fiscal year ending March, payment of corporate tax, which is due in May, will be postponed without collateral.
In addition, depending on how much income the building owner will reduce by reducing rents, etc., the property tax for the next fiscal year will be reduced by half, or the entire amount will be exempted.
Regarding such incentives, the government is proceeding with the necessary legal reform procedures in the current Diet.
In addition, if the rent is reduced, we will take steps to lighten the burden of corporate tax paid by businesses as in the case of a disaster, but we have decided to extend this scope to sole proprietors.
The Ministry of Land, Infrastructure, Transport and Tourism informs these measures through industry groups and calls on the owners of buildings to respond flexibly.