Japanese Business Glossary

年末調整 給与所得 (nenmatsu chosei kyūyo shotoku), year-end adjustment employment income, is the income that is subject to adjustment. During the year-end adjustment, the employer calculates the employee's total employment income for the year, applies the appropriate deductions, and determines if the correct amount of tax has been withheld. If too much tax has been withheld, the employee will receive a refund. If too little has been withheld, the employee will need to pay the difference.

扶養控除等申告書 (fuyo kojo-to shinkokusho) is the Declaration Form for Dependent Deductions and Other Deductions in English. This form is used by employees in Japan to declare their dependents and claim applicable tax deductions, such as the dependent deduction (扶養控除 = fuyo kojo), spouse deduction, and other related deductions.

By submitting this form, employees can reduce their taxable income, which in turn lowers their overall tax liability. The form is typically submitted to the employer at the beginning of the year or when there are changes in the taxpayer's dependents or other deductible circumstances. The employer uses this information to calculate the appropriate amount of tax to withhold from the employee's salary throughout the year.

給与所得控除 (kyūyo shotoku kojo) refers to employment income deduction in Japan. This deduction is available to salaried employees in Japan and is automatically applied to their employment income. It is designed to account for work-related expenses and reduce the taxable income of employees.

The amount of the deduction is calculated based on the total amount of employment income, with higher incomes receiving higher deductions, though there are maximum limits. This system ensures that employees can offset part of their earnings against costs incurred in earning that income, thus lowering their overall tax liability.

保険料控除申告書 (hokenryo kojo shinkokusho) is the Insurance Premium Deduction Declaration Form. This form is used in Japan for declaring and claiming deductions for insurance premiums on your annual tax return. These deductions can apply to various types of insurance, such as life insurance, earthquake insurance, and private pension insurance.

By submitting this form, taxpayers can reduce their taxable income, thus lowering their overall tax liability. It is important to fill out the form accurately and provide the necessary documentation to support the claimed deductions. This form is typically submitted to the tax authorities or through your employer during the year-end adjustment process.

所得金額調整控除 (shotoku kingaku chosei kojo) refers to income adjustment deduction in the Japanese tax system. This deduction is designed to provide tax relief for individuals with specific income types or conditions that might result in a higher tax burden.

The income adjustment deduction can apply to various situations, such as income from multiple sources, where combining incomes may lead to a higher tax rate, and income fluctuations that might push a taxpayer into a higher tax bracket.

By applying this deduction, taxpayers can adjust their taxable income downward, potentially lowering their overall tax liability. The specific rules and amounts for this deduction can vary, so it is important to consult with a tax professional or refer to the latest tax guidelines to understand how to apply it properly.

控除対象配偶者 (kojo taisho haiguusha) refers to a spouse who qualifies for certain tax deductions in Japan based on their income and other conditions. Typically, to be considered a spouse eligible for deductions, the spouse's annual income must be below a specific threshold. When a taxpayer claims their spouse as eligible for deductions, they can reduce their taxable income, thereby lowering their overall tax liability. This deduction is part of the measures to provide financial relief to families where one spouse has little or no income.