Archive for June 10th, 2010

Corporations, carry back of tax losses

June 10, 2010  |  Corporate tax administration  |  No Comments

Akihabara by night, the heart of Japanese 'Otaku' culture

In principle the Japanese tax system allows the carry back of tax losses to a prior tax year.   Regrettably however such loss carry back has been suspended since 1992 except in certain special circumstances discussed below.  This post discusses briefly the circumstances where a carry back of losses may be allowed for a company for Japanese tax purposes.  It also includes a translation of an article from the Japanese tax authority web site explaining in more detail critera, timing and other matters related to tax loss carry back.   If you are considering whether your company may be able to carry back losses it is essential that you plan well in advance, pay attention to time limits and also get proper professional advice (and not not rely solely on this site). Read More