64. NOL Carryforward / Carryback 欠損金の繰越し及び繰戻し還付

欠損金の繰越し及び繰戻し還付について英語でまとめました。

The table below provides an overview of the carry-forward and carry-back of net operating losses ("NOLs") under Japanese corporate tax law. 

See this post for more about Japanese tax and accounting.

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Definition of NOL	A net operating loss (“NOL”) = Loss minus income for tax purposes of the fiscal year
NOL carryforward 欠損金の繰越し	Corporations may utilize NOLs generated in the last ten fiscal years (or nine years in certain cases) to offset the income of that fiscal year.
	Utilization limit	The following corporations utilize NOLs up to income before utilization: 1. A Japanese corporation with stated capital of JPY100 million or less at fiscal year-end (except for corporations wholly owned by large corporations) or with no capital 2. A Japanese corporation for a fiscal year in which any day from the date of decision of the commencement of reorganization proceedings under Corporate Reorganization Act to the day seven years from the approval of a plan related to the proceedings falls 3. A Japanese corporation for a fiscal year in which any day from the date of decision of the commencement of reorganization proceedings under Civil Rehabilitation Act to the day seven years from the approval of a plan related to the proceedings falls 4. A Japanese corporation for a fiscal year in which any day from the date of establishment to the day seven years from establishment falls Corporations other than the above may utilize NOLs up to 50% of income before utilization.
	Requirements	-   Filing of a final tax return for the fiscal year in which the NOL is generated -   Filing of final tax returns for the subsequent fiscal years -   Retention of certain documents
NOL carryback 欠損金の繰戻し還付	A corporation filing blue form tax returns may carry back an NOL for the fiscal year (“FY”) to the previous fiscal year to claim a corporate income tax (“CIT”) refund of the following amount: CIT for previous FY x NOL of current FY / Income of previous FY
	Requirements	-   Filing of blue form final tax returns for the fiscal year in which the NOL is generated (i.e., current FY) and the previous fiscal year (i.e., FY with income) -   Filing of the final tax return for the current fiscal year (with the NOL) by the deadline -   Filing of a refund application with the refund amount with the tax office
	Non-eligible companies	NOL carryback is available only for the following corporations (except for corporations under liquidation): -   SMEs, i.e., Japanese corporations with stated capital of JPY100 million or less at fiscal year-end (except for corporations wholly owned by large corporations) or with no capital -   Certain other corporations

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