Public Sector
The Act on General Incorporated Associations and General Incorporated Foundations, the Act on Authorization of Public Interest Incorporated Associations and Public Interest Incorporated Foundation, and the Arrangement Act, all of which were enacted on December 1, 2008, have led to the establishment of the public interest corporation regulation and the tax regulation for public interest corporations.
Under this tax regulation, public interest incorporated associations, public interest incorporated foundations, as well as general incorporated associations and general incorporated foundations that are non-profit corporations are treated as public interest corporations and subject to rules that are different from those applied to ordinary companies. For example, the corporate tax for public interest corporations is imposed only on income generated from profit-making businesses.
BDO Tax Co. provides various services including the preparation of applications for incorporation of a company and authorization as a public interest corporation, documents necessary after the authorization as a public interest corporation, and tax returns for profit-making businesses.