The Summer Olympic Games 2020 Tokyo: Are You Registered for JCT?

23 October 2018
Japan News

About the Refund Opportunity

While the summer Olympics feels like it’s far away from hitting our screens, foreign companies and organisations involved in the massive event need to start preparing for Japan’s complex JCT (Japanese Consumption Tax) registration process.

If you’re the financial director of an Olympic committee, broadcaster or Olympic sponsor, then you should know you can save 10% on all your costs related to the event.

That’s if you register soon!

Tax on expenses around the event will be claimable but only if you register beforehand. Unlike other countries where VAT is claimable retrospectively, in Japan you have to register first and then claim quarterly or annually after registration. For example, if you wish to claim on your expenses leading up to the event in 2019, you will have to register for JCT by December 2018!

The following companies and organisations qualify for the refund opportunity:

• International Olympic Committees and International Para-Olympic Committees

• NOC and NPC

• Olympic broadcasters with a direct contractual relationship with the IOC

• Top Sponsors

• Wada and CAS

No restrictions on what can be claimed have been announced yet. We believe that the Japanese VAT Authorities will allow all expenses to be reclaimed. The following are some common expenses which often form around Olympic events.

• Accommodation

• Training

• Meals

• Advertising costs

• Real Estate rentals and leases

• Goods/services necessary for the maintenance of an office in Japan

• Broadcasting goods and services provided to OBS and RHBs

• Broadcasting equipment and vehicle purchases and repairs.

Organisations and companies will also be able to claim on any expenses leading up to the actual event so should there be any reason to visit or train in Japan say in 2019, the tax on these costs will also be refundable.

All countries are eligible to claim this JCT and take advantage of this opportunity to save huge amounts of tax off the back of Olympic expenses.

VAT IT has been specialising in the recovery of JCT for over 13 years. We have solid relationships with various agents and the tax authorities in Japan. We are ready to assist your organisation with any registration and reclaim services you may need.

Contact your local branch today and they will be able to assist you!

P.S – Don’t forget! If you want to be able to claim on expenses leading up to the event during 2019, you will have to register for JCT by December 2018!

For more details

*Denotes required

Related articles

VAT news delivered to your inbox.