Ruling on corporate tax payments, etc.
A ruling tax council was held over economic measures against the spread of the new coronavirus infection, and corporate tax and other payments were deferred to companies whose revenues decreased, and property taxes were imposed on small and medium-sized businesses whose sales continued to decrease. Agreed to reduce the exemption.
The Liberal Democratic Party and the Komeito party are considering tax measures to support corporate financing and other measures in economic measures following the spread of the new coronavirus infection. Was.
For companies whose income has declined significantly, the payment of corporate tax and consumption tax will be deferred for one year, and small and medium-sized enterprises whose sales continue to decline will be exempted from half or all of the property tax on equipment and buildings. Agreed.
In addition, we confirmed that SMEs with a deficit will be able to retroactively receive a corporate tax refund for some large companies.
Both parties intend to work on a concrete institutional design adjustment and to consolidate by April 2.