English expressions about tax Part 26

The economy continues to slump as the state of emergency is extended due to the Corona disaster.

There is no doubt that these are difficult times for many businesses, including our own.

Therefore, today, we would like to introduce the "tax exemption point system for business owners".

Business owners with taxable sales revenue (excluding tax) of 10 million yen or less for the base period (for sole proprietors, the year before the base period; for corporations, the year before the base period) are exempt from tax.

Business owners with taxable sales revenue (without taxes) below ¥10,000,000 during the standard period (in the case of an individual business operator Business owners with taxable sales revenue (without taxes) during the standard period (in the case of an individual business operator , the year before the preceding year and in the case of a corporation, the year before the previous fiscal year) will be exempted from taxation.

Sole proprietorship = individual business operator

individual business operator

Corporation

The system is applicable to both individual business operators and corporations.

the year before the preceding year

the year before the previous fiscal year

The year before the preceding year" sounds like "two years ago"?

It may sound like "the year before the preceding year," but it is probably safer to follow this expression, even if it may sound wordy.

We will introduce this system in more detail in the next issue, so please look forward to it, regardless of whether you are a sole proprietor or a corporation!