On 7 April 2020, the National Tax Agency of Japan announced tax relief measures in response to the coronavirus (COVID-19) pandemic.
For almost all national tax liabilities of legal or individual taxpayers for which payment due dates fall between 1 February 2020 and 31 January 2021, the deferral of the national tax payment will be permitted for one year or less provided there has been a 20% decrease in the taxpayer’s revenue for the same period in the prior year. Expanded the scope of tax refund by application of tax loss carrybacks with stated capital of JPY 1 billion or less (from JPY 100 million or less). Stamp tax exemption for contracts involving public or private financial institutions.
