P5 News
Shonan Tax Office No. 170
November 2003

Estimated Tax Prepayment


   

Here is the schedule of the taxes in Japan. 
· January The Property Tax (the third period)
· February The Property Tax (the forth period)
· March The Income, Gift, and Individual Consumption Tax
· May The Property Tax (the first period) and Vehicle Tax
· June The Individual Residence Tax (the first period)
· July The Property Tax (the second period) and Individual Business     Tax
· August The Residence Tax (the second period) and Individual Business Tax (the first period)
· October The Residence Tax (the third period)
· November The Estimated Income Tax and Individual Business Tax (the second period)
 

    Those are basic taxes in Japan, yet some people pay for the income tax withheld at source.

 

    If the salaried workers and people who own business themselves have the real estate income, they do the final income tax return every year. Those people sometimes receive the notice for the income tax from the tax office in June and October. This notice is called the estimated tax prepayment. We calculate the income and taxes of a year and do final income tax return by March 15 of next year. However, the government wants us to pay the some of the taxes before that period. It is like a prepaid tax.


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