65. Japanese Group Relief - Offsetting of Profit and Loss for Current Fiscal Year グループ通算 - 損益通算

グループ通算について英語でまとめました。

The below provides an overview of the offsetting of profit and loss for current fiscal year between corporations of a group for Japanese group relief purposes under Japanese corporate tax law. 

See this post for more about Japanese tax and accounting.

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Offsetting of profit and loss for current fiscal year between corporations of a group for Japanese group relief purposes  

A. Corporations with a profit

The sum of losses made by group corporations for the current fiscal year is allocated to group corporations with a profit of that fiscal year pro-rata according to their respective profits. Each group corporation with a profit then deducts the allocated loss from its profit.    

B. Corporations with a loss

The same amount of profit as the amount of the losses allocated to the group corporations with a profit in A is allocated to group corporations with a loss pro-rata according to their respective losses. Each group corporation with a loss then reduces its loss by the allocated profit amount.   

C. Subsequent corrections  

Any subsequent amendment or correction of a tax return of a group company does not affect the offsetting of profit and loss in A or B and therefore, in general, has no impact on the tax calculation of the other group companies. Such subsequent amendment or correction affects only the tax calculation of that group company. 

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