What is the Japanese Special Reconstruction Tax being applied as of the 1st of January, 2013?
- As of the 1st of January, there are changes to the law for withholding tax in Japan. If you need to use withholding tax in your business, this will affect how you create your quotes and invoices.
- To enable this, simply select the correct option on the ‘Create Invoice’ or ‘Create Quote’ page.
- Withholding tax rates with the Special Reconstruction Tax applied are calculated using this formula:
Tax on the amount up to 1 million yen | Tax on the over 1 million yen |
Expenses × 10.21(%) | (Expenses – 1 million) × 20.42(%) + 1 million |