Our service corresponds to the circumstances specific to foreign-affiliated companies.
The following services will be provided for foreign-affiliated companies;
– Monthly reporting to the parent company
– Conversion of financial statements to align with regional and global statutory requirements (e.g., US GAAP, IFRS to local).
– ERP (Oracle, Netsuite, etc.) operation.
– Tax advisory on withholding tax, consumption tax, and entertainment expense. Those issues are likely to be found in bookkeeping.
(*) If you do not need bookkeeping service, only the GAAP conversion service is available
Accounting standards are becoming common beyond the borders, but tax laws are unique from state to state. So we keep the followings in mind;
– Explain the Japanese tax system in plain English
– Explain the details of tax adjustments in the tax return in plain English.
– Tax provision Prepare monthly, quarterly, or annual tax provision.
For example, we will prepare a tax return for the following people.
-Foreigners working at a Japanese corporation (Experts). We will also advise on the withholding obligations of Japanese employers.
-Foreigners residing overseas who are investing in Japanese real estate or shares
-Japanese who live abroad and have real estate or stock income in Japan
Final income tax return for those with only employment income JPY 77,000 (including consumption tax)
Final income tax return for those with only real estate income JPY110,000 (including consumption tax)
Please let us estimate for more details.
“Expats” are employees or directors of overseas parent companies who are dispatched to Japan by relocation. Expats’ Payroll and social insurance procedures would have the following characteristics;
Whether social insurance is applied depends on the individual situation.
Expats often receive economic benefits other than cash, such as company housing, furniture lease, utilities, education, and tax reimbursement. Those would affect to withholding tax amount in calculating wages.
Our service includes;
– Support your judgment on whether social insurance applies to expats.
– Support your judgment on whether an economic benefit is taxable.
– Gross up the calculation. (To increase a net amount to include deductions, such as taxes, that would be incurred by the receiver. An employee can receive their salary grossed up, which means that they would receive the full wage promised to them, without deductions for tax).
We will support for foreign corporations and international people in their entering Japan markets with other experts regarding the following case.
– Examination of tax scheme (Establishment of company, Acquisition of existing Japanese entity, pass-through entity, Profit return to the parent company)
– Attendance when negotiating with the real estate agent as a translator
– Support for acquisition of a VISA
– Incorporation of the joint-stock corporation
– Support for opening a bank account
– Prepare documents and submit to the tax office, labor standards administration office, the job security office, and the social insurance office
– Regarding the tax scheme for entering Japan, we have a lot of experience. If necessary, we will do due diligence as a team with other experienced experts.
This is for Japanese companies who concerns about its foreign subsidiary management.
|communication with local accounting firm||In case the local accounting firm is small, they can not handle English.|
|unreliable accounting office in Japan||The accounting firm in Japan is not reliable in international taxation, English communication.|
|no timely monthly financial report|
|hard to review their financial report||If their report is in the local language, different accounting system is different, it is just hard to understand.|
In order to solve those problems, we offer below services to help you deal with the above concerns.
(1) make timely reports available by communicating and controlling the local accounting firm.
(2) make the reporting format that converts the local language and local accounting systems into the Japanese system
(3) review the monthly report.
There are various issues for Japanese companies expanding overseas, including the establishment of overseas subsidiaries, frequent overseas business trips of Japanese employees, overseas assignments, the establishment or transfer of regional headquarters, and the transfer of ownership of foreign subsidiaries. It is not easy for a large company with a large number of employees to deal with it. Still, it is, even more, a challenge for small and medium-sized companies with limited staff. Our office will assist you in solving your overseas business issues.
In dissolution and liquidation of the corporation, you would need experts at least on tax, registration, and social insurance.
For tax-wise, there are unique treatments in tax law to avoid taxable income incurred by debt relief, disposal of assets, etc.
You would need an experienced manager who coordinates the whole process, including finding the experts, discussing the scope and fee with them, managing the schedule and reporting to the parent company.
We will provide these coordinating function, and will be appointed as a liquidator if needed.
(Tax return and bookkeeping should be handled by an existing accounting firm or tax professional for the sake of efficiency)