[For beginners] What is a tax return? Easy and clear explanation!

Hello, this is Sakashita from Beyond.

January is already over. Yes, it's tax return season!

I think this is the first time for some people to file their tax return.

「What exactly is a tax return?」

「When is the application period for final tax return?」

I think there are some people who have various questions such as these and who are worried about filing their final tax return.

So, this time I would like to explain the basic knowledge of tax return

 

*We have compiled an easy-to-understand list of deductions that can be made during year-end adjustments and tax returns. Check it out here!

[2021] List of income deductions that can be taken at the time of year-end adjustment and tax return [No loss]

Please see this article for an easy-to-understand summary of the application period and change points for 2021 applications

[2021 filing deadline extended! ] We have summarized the main points of final tax return in an easy-to-understand manner!

What is a final tax return?

Simply put, a tax return is:

In order to determine the tax that the person must pay for the previous year,

Declaring the previous year's income to the tax office .

The amount of tax you pay is not decided arbitrarily; it is decided by you by filing your tax return with the tax office.

If you work for a company, the tax will be deducted and paid instead of us having to go to the country to collect it.

(Previous article: Easy to understand! What is the year-end adjustment for? )

 

Who is eligible for final tax return?

So, what kind of people are required to file a tax return?

A typical example is a `` sole proprietor ,'' who is required to file a final tax return.

Even if you work for a company, you will be required to file a final tax return in the following cases:

This is just a representative example.

If you are unsure whether you need to file a final tax return, please contact the tax office

 

What is the application period for final tax return?

The applicable filing period from January 1st to December 31st .

The filing period from February 16th to March 15th of the year following .

File your tax return and determine your income tax amount within this period.

In other words, calculate the tax amount for your income from January to December of last year and file it between February 15th and March 15th of this year .

Next year's National Health Insurance premiums and resident tax will be determined based on the contents of your final tax return

Your company will not file your tax return on your behalf like year-end adjustments, so

Please note that you will need to decide whether or not to declare it yourself!

 

Where should I submit my tax return?

An income tax return is submitted to the tax office that has jurisdiction over the place where you live when filing the return

If you don't know which tax office has jurisdiction over you, please check the National Tax Agency website.

National Tax Agency HP: Check the National Tax Bureau/Tax Office

 

summary

A final tax return is the calculation of taxes for one year's income from January 1st to December 31st

Report to the government between February 16th and March 15th of the following year

If you work for one company throughout the year

There is no need to file a final tax return just for the year-end adjustment carried out by the company .

Even if you work for a company, if you work at multiple places in a year have a gap between jobs ,

You must file your tax return yourself.

When filing a final tax return, submit the final tax return to the tax office in your place of residence

Filing a tax return may seem like a hassle, but

Once you understand it, you will be able to do it easily the next time you file your tax return!

First of all, check now if you are eligible for tax return!

 

Please read here to learn how to easily create one online.

Don't rush even at the last minute! Easily prepare your tax return online.