Japan Tax Agency Issues Updated FAQs on 2024 Flat-Rate Income Tax Reduction Measures

The Japanese National Tax Agency April 30 posted online updated FAQs on the flat-rate income tax reduction measures under the 2024 tax reform, based on laws and regulations in force as of April 1. Topics covered include: 1) an updated delivery date for the current period of the scheduled tax payment and the deadline to apply for a reduction in the planned tax payment for the first and second periods; 2) the calculation procedure of the scheduled tax payment, estimated tax amounts in July and November, and the fixed tax reduction on tax returns; 3) circumstances for a reduction in ...