Nagamine & Mishima Consulting

Accounting practice since 1989

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Loss Carried Forward

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.

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People are Talking

  • “I had the privilege of working with Nagamine and Mishima over the last 1 year and has been most impressed with their level of professionalism and standards.  They always provide us with good advise on the local accounting requirements and standard.  Also they are always on time in their accounting report submission and have always met our needs for adhoc requests.  This arrangements best suit our needs and allow us not to invest in our own accounting headcounts as we have an accounting partner that meet our needs fully.”

    Chia Sin Jin, Finance Director

    Unity Technologies