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:
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.