Tax & Filing
ねんまつ年末ちょうせい調整
Year-End Tax Adjustment
Definition
Year-End Tax Adjustment is the process where employers recalculate the total income tax for each employee at year-end and adjust the cumulative withholding amounts to settle any over- or under-payment. Various deductions such as life insurance premium deductions and dependent deductions are applied to determine the final tax amount. This effectively serves as a final tax return for most salaried workers, eliminating the need for individual filing (確定申告).
Examples
年末調整で生命保険料控除を申請するのを忘れないでください。
Don't forget to apply for the life insurance premium deduction during the year-end tax adjustment (年末調整).