Ministry of Economy, Trade and Industry (METI) announced that Japanese government will give small/medium sized businesses a grant amounting to 2 Million Yen (1 Million Yen for self-employments) to support for sustaining their businesses if certain conditions are met ( https://www.jizokuka-kyufu.jp/  ).

Conditions to meet are as follows;

Stated capital: 1 Billion yen or less

Industry: In general, all industries are eligible

Significantly reduced monthly revenue (SRMR)

: Less than 50% of prior year’s same month revenue in 2020

A written oath committed to continue their businesses

Amount of grant:

Prior year’s revenue -SRMR X12 (if more than 2 Million yen, then 2 Million yen)

Necessary Information Documents:

1. Application form
2. Copy of prior year’s tax return with tax office’s receipt stamp
3. Copy of monthly sales record
4. Copy of company registration
5. Bank account information

Only on-line filing of application form is available.

The grant will be transferred to the designated bank account within about 2 weeks upon apply.

This grant is taxable for Corporate Tax purposes.