Tax & Filing
あおいろ青色しんこく申告
Blue Return
Definition
Blue Return is a tax filing method that provides various tax benefits in exchange for keeping proper accounting records and books. For individuals, benefits include a special deduction of up to ¥650,000. For corporations, benefits include loss carryforward for up to 10 years. Advance application must be submitted to the tax office using the Application for Approval of Blue Return (青色申告承認申請書).
Examples
青色申告を行うには、事前に税務署へ承認申請書を提出する必要があります。
To file a blue return (青色申告), you must submit an approval application to the tax office in advance.