"Retained earnings" tax exemption system to be reviewed
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According to the Board of Audit's investigation into a system that exempts the taxation of retained earnings, so-called "retained earnings", which is left internally by a family company such as a privately owned company, it is more financial than the taxable companies. It turns out that some companies have a solid foundation, and the Board of Audit has decided to recommend the Ministry of Finance to reconsider the system, including a review of the scope of taxation.
The system for exempting the taxation of retained earnings for "small and medium-sized specified family companies" such as privately owned companies with capital of 100 million yen or less was revised in 2007 to strengthen the financial base of small and medium-sized enterprises. It was set up.
The Board of Audit has extracted and examined about 16,000 family-owned companies that are exempt, and found that more than 400 companies have net assets from taxable companies with capital of over 100 million yen. And the capital adequacy ratio showed that the financial base was strong.
The Board of Audit estimates that a total of 31 billion yen can be collected if these companies are taxed on the same basis, and the current taxable range is uniformly excluded from the target of capital of 100 million yen or less. We will recommend the Ministry of Finance to reconsider the system.