Loss Carried Forward

The amount of carried forward loss a company can use has been extended from 7 years to 9 years in 2012. In order to apply, you are required to submit the blue form notification to the tax authorities and your capital amount needs to be below the threshold of medium and small size company defined in the Japanese tax code. The balance outstanding for carried forward losses are included in every year’s tax return so please make sure your tax accountant is submitting them correctly. Besides maximizing the usage of carried forward losses for deductible losses, there is a way to apply for refund as well, so consult with your tax accountant if you are in a position to do so.

“Our Group operates worldwide in the fashion and luxury goods sector and is active in the design, production and distribution of a wide range of products that includes prêt-a-porter, footwear and leather goods.

We started our collaboration with Nagamine & Mishima Accounting Office since we decided to establish our subsidiary Aeffe Japan in November 2008. N&M supported us during the start up of this company in particular with the accounting, payroll, cash management and tax services and gave their total collaboration when Aeffe Japan built-up Its own financial department. We found a very high quality support and punctual answers to different one-shot questions that also helped us to understand, in an easy way, a really different way to operate.

After the start up phase, we decided to confirm to N&M the tax and payroll services for Aeffe Japan and for Moschino Japan, our other Japanese subsidiary, and the daily relationship with them passed from the Italian HQ to the Japan subsidiaries in a very simple way.

We are very satisfied to have chosen N&M.”

Andrea Pagliarani, Group Financial Controller
Aeffe Japan KK