The useful life of the depreciable asset has expired and depreciation has been completed. In this case, do I still need to submit a tax return?
Updated: February 20, 2014
If you have depreciable assets, you are required to declare your assets as of January 1st of each year according to local tax laws. Also, even if the asset has passed its useful life and depreciation has ended, the residual value (5% of the acquisition price) remains.
Therefore, as long as the asset is used for business, a declaration is required.
Inquiries regarding this page
Inagi City Citizens Department Taxation Division
2111 Higashi-Naganuma, Inagi-shi, Tokyo
Phone: 042-378-2111 Fax: 042-370-7055
