Starting an operation in Japan (Support for Entering the Japanese Market)
As accounting and tax specialists, we support foreign companies and foreign-affiliated companies in their entry into the Japanese market and business operations so that they can concentrate on their core business.
1. initial (at the time of establishment) support
(1) Support for company incorporation (registration of incorporation)
We provide company establishment support services for foreign companies and foreign-affiliated companies. We propose the most appropriate form for your company according to your company’s current situation and requirements, and provide support for company incorporation registration, branch establishment, and various procedures related to corporate tax/consumption tax with the tax office. We also provide advice on consumption tax (VAT), including registration as a qualified invoicing business (invoice).
(2) Notification to tax offices, etc.
We also handle notifications to tax authorities and metropolitan tax offices.
(3) Procedures for joining social insurance, etc.
We provide procedures for joining social insurance, labor insurance, etc. in cooperation with a labor and social insurance consultant.
2. Support for monthly/annual operational work
(1) Bookkeeping and reporting
We provide monthly bookkeeping services required under the Companies Act and tax laws, handling input in English, bookkeeping in accordance with the overseas parent company’s accounting system, reporting to the overseas parent company, preparing reports in the format specified by the head office and adjusting accounting standards according to the parent company’s requirements.
If necessary, we communicate directly with the accounting department of the overseas parent company and provide reporting according to their requests. we can also handle USGAAP, IFRS, etc., so that we can support subsidiaries of overseas listed companies.
(2) Tax compliance and advisory
We support tax compliance of Japanese subsidiaries in foreign corporations. We file various tax returns (electronic tax returns, e-Tax, eL-TAX) required in Japan, including corporate tax, inhabitant tax, enterprise tax, consumption tax, and depreciable asset tax.
(3) Payroll and social insurance procedures (Payroll)
We provide a series of services including monthly payroll calculation, preparation of pay slips, social insurance procedures, and year-end adjustments in cooperation with a labor and social insurance attorney
3. Case studies
The following are some examples of cases in which we have provided services upon request.
(1) Case 1 (registration of incorporation, accounting software installation, social insurance subscription, monthly bookkeeping, tax filing, etc.)
We provided support for the establishment of a Japanese corporation in cooperation with a judicial scrivener upon request, and filed various notifications with the national tax office and the local tax office.
Introduced cloud accounting software, Money Forward, to facilitate accounting bookkeeping, payroll calculation, expense reimbursement, year-end adjustments, etc. Implemented various settings and linkages.
Performed monthly bookkeeping on behalf of the client. Reported trial balance in English to the overseas parent company. Payroll calculation is provided by a Money Forward-compatible social insurance and labor consultant.
Corporate tax and consumption tax returns are filed with the approval of the person in charge in the home country.
(2) Case 2 (Introduction of accounting software, monthly bookkeeping, reporting based on parent company format, tax reporting, etc.)
Monthly accounting was performed by our accounting software (Yayoi Accounting). Since the general ledger may be submitted to the overseas parent company, English is used for accounts, abstracts, etc.
Input into the reporting format designated by the overseas parent company and upload to the designated cloud service.
Prepare and issue invoices and sales calculations from the Japanese subsidiary to the overseas parent company.
Respond to global questions regarding Japanese taxation
Receive approval from the home country representative to file corporate tax, consumption tax, etc. returns.
(3) Case 3 (Introduction of accounting software, preparation of data to be imported into the parent company’s accounting software, tax reporting, etc.)
Set up the accounting software (Yayoi Accounting) according to the foreign parent company’s account codes and account system. Perform monthly bookkeeping and report directly to the overseas parent company.
Correction of expense items, etc., in accordance with requests from the overseas parent company.
After bookkeeping is completed, report to the overseas parent company in the specified format. After the bookkeeping work is completed, the report is submitted to the overseas parent company in the designated form. The overseas parent company uploads the report to the consolidated accounting system for import.
Corporate tax, consumption tax, and other tax returns are filed with the approval of the person in charge in the home country.
(4) Case 4 (Preparation of reporting materials and reporting to the overseas parent company)
The Japanese subsidiary prepares materials for monthly reporting as specified by the overseas parent company. For this purpose, log in to the accounting software input by the Japanese subsidiary and check the numerical values, etc.
Prepare and report to the overseas parent company according to the confirmed contents.
With regard to corporate tax, consumption tax, and other tax returns, we obtain approval from the person in charge in the home country and file the returns.
We are prepared to respond flexibly to any needs you may have, so please feel free to contact us if you have any questions or concerns.
