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| Professional Services | ||
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| Staffing Service | ||
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| Accounting and Payroll | ||
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| Shared Service | ||
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| Tax Representative Agent Services | ||
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| Tax | ||
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| Internal Audit | ||
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| Financial Audit | ||
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| Consulting | ||
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| Forensic Accounting | ||
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| IR Support | ||
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| Social Insurance | ||
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| Top Page | ||
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Consumption tax reconciliation service |
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| With the economic downturn, many foreign companies with Japanese branches and subsidiaries are downsizing their operations in Japan. We are seeing more instances of back office support functions (i.e. accounting, human resources, payroll, etc) being transferred to Shared Service Centers (SSC) or to parent companies. One of the pitfalls to these transfers is that the systems used by the SSC and the parent companies generally are not adequately setup to record consumption tax information and cannot generate individual account level tax information. Moreover, consumption tax information in Japan is not always displayed as a separate item on invoices, cash receipts or statements, which makes recording of these transactions a little more complicated and prone to errors. As a result, many companies are finding out, at the last minute, that they have problems assembling account level consumption tax information often requested by the Japanese tax authorities when they have questions on their consumption tax returns. | ||
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| If you think you may have a problem, contact us for a free evaluation. Our team of professionals will review your situation and provide you with the right approach and solutions to your problem with a fee estimate. Summer and early fall will be the best time to perform these reviews when there is ample time to get you on the right track before the busy tax season starts. | ||
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Shared Service Center Service Support |
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| Numerous companies now engage their overseas SSC's to provide accounting services overseas. Due to the complexity in the Japanese payroll system and consumption taxes, SSC's often do not have the ability to record transactions which are accepted by the Japanese tax authorities. There are also numerous cases where tax treatment is guided by how the accounting entries have been made. Accordingly, a certain level of Japanese tax knowledge is necessary to minimize income taxes. | ||
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| We can act as the liaison between the SSC, local subsidiary and the firm preparing the tax returns. In particular, we can prepare the necessary Japanese financial statements, certain account details, consumption tax worksheet and also assist in compiling information necessary for the factor-based tax. | ||
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Payroll Coordination |
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| In an effect to save costs, Shared Service Centers (SSC) have been retained to perform payroll processing in recent years. However, due to interlocking relationships among withholding taxes, social insurance, labor insurance, and employee expectations on the employer, it is difficult for overseas SSC's to provide accurate payroll computations as well as perform the necessary labor and social insurance procedures. |
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| In order to alleviate such problems, we offer "payroll coordination services" to act as the link and provide technical knowledge between the SSC and local subsidiary. | ||
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