Nagamine & Mishima Accounting Office

Accounting practice since 1989

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Deferred Assets

Deferred Assets

Deferred assets under the Japanese Tax Code consists of 2 categories. One is deferred assets recognized in generally accepted accounting principle such as

1. Inaugural Expense
2. Business Commencement Expense
3. Research & Development Expenditures
4. Share Issuing Expense
5. Bond Issue Cost

Another is deferred tax uniquely defined under the Japanese Tax Code. The Deferred Tax uniquely defined under the Japan tax code are expenditures which benefit is expected to extend more than 1 year on certain conditions. Examples are giveaways of promotional usage equipment and lease repayments. Deductible amount varies depending on certain criteria for this Japan tax code unique deferred tax. Some royalties fees fall into deferred assets so we advise you work closely with the accounting office.

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People are Talking

  • “The launch of Berry Bros. & Rudd Limited’s Japanese branch in November 2008 required the support of a knowledgeable, reliable and professional accounting firm and we were therefore fortunate to find all of these qualities working with the Nagamine & Mishima Accounting Office.

    Since assisting us with the initial set-up, N&M have managed our monthly and year-end Accounts as well as handling our Payroll, ensuring compliance with Tax regulations and filing annual Tax Returns and supervising year-end stock counts.  They respond to all queries in a very timely manner, their work is of a high consistency and their approach friendly.

    With N&M assistance we have confidence in the controls and integrity of the accounting information for our Japanese operations.”

    Philip Duggan, Finance Director

    Berry Bros. & Rudd Limited Japan branch