60. Tax Treatment of Taxes, Penalties, and Refunds

租税公課と還付金の取扱いについて英語でまとめました。
The table below provides an overview of tax treatment of taxes and penalties and their refunds for Japanese corporate tax purposes.

See this post for more about Japanese tax and accounting.

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I. Corporation taxes and penalties

The following amounts are non-deductible:

Corporation taxes
	Corporate income tax (national and local)
	Inhabitant tax (prefectural tax and municipal tax)
Penalties
	A penalty for understatement of tax
	A penalty for failure to file a tax return
	A penalty for non-payment of withholding income tax
	A penalty for fraud
Interest on late paid national/local tax
Penalties
	Criminal penalties
	Administrative penalties
Withholding foreign tax on dividends excluded from taxable income under foreign dividend exclusion rule
Income tax credit against corporate income tax
Special reconstruction income tax credit against corporate income tax
Foreign tax credit against corporate income tax

II. Refunds

The following amounts are non-taxable:

Tax refunds
	A refund of non-deductible corporation taxes
	A refund of non-deductible penalties
	A refund of income tax
	A refund from tax loss carry-back
Refunds of penalties
	A refund of non-deductible criminal/administrative penalties
A decrease in non-deductible withholding foreign tax on foreign dividends excluded from taxable income under foreign dividend exclusion rule
A part of a decrease in foreign corporate tax if the decrease occurs within 7 years from the fiscal year in which a foreign tax credit is applied to that tax

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