Today’s lecture is about “Consumption tax”

In Japan, if you purchase goods/services, you pay 8% consumption tax.
Consumption tax is the tax for consuming goods/services in Japan. If you purchase goods/services overseas, you do not have to pay consumption tax.

If you do the business, you will receive the consumption tax when you sell goods/services and pay consumption tax when you purchase goods/services. If the amount of consumption tax received is larger than consumption tax paid, you need pay consumption tax after the fiscal year end. On the other hand, if the amount of consumption tax paid is larger and the amount of consumption tax received, you can receive the consumption tax refund by filing consumption tax return.