Frequently Asked Questions (Property Tax)

QuestionThe useful life of the depreciable asset has expired, and depreciation has ended. Is it still necessary to submit a tax return in this case?

Response

If you own depreciable assets, you are required to declare the assets as of January 1st each year in accordance with the Local Tax Law. Additionally, even if the useful life has expired and depreciation has ended, there will still be a residual value (5% of the acquisition cost).
Therefore, as long as you use those assets for business purposes, a declaration is necessary.