CH 50

Chapter 50. [Fear! Tax Return!]

“‘My words to you!’ I’m Iroha, the translator girl. Hello, everyone!”

>Irohalo

>Good job on the exam!

>I’ve been waiting for you!

I’m back to VTubering now that I’ve passed my exams.

I’m a little nervous because it’s been a while since I’ve streamed.

“As for the exam’s results, I passed without a hitch!”

>Congratulations!

>¥10,000 Pass celebration

>¥1,680 to cover the entrance fee

“Thank you all. I’m glad to say I’m exempted from paying the entrance fee and tuition for one year because I got the “A” Special Exemption. I also get uniforms and textbooks even if I don’t buy them.

>That’s great, Iroha-chan!

>The special treatment is huge.

>If it’s Iroha-chan, it wouldn’t be strange for her to get the S special treatment.

“No, no, no, no, you’re overreacting. It depends on the school, but in my case, the requirement is to get 80% or more in all subjects.”

>As expected, it’s hard to run in parallel with streaming

>I mean, the line to pass the junior high school entrance exam is to get 60%.

>80% is too difficult in such a situation.

“The barrier of a tuition waiver for 3 years is very high. It’s depressing to think about the payments starting next year.”

>Private junior high schools can easily cost a million dollars a year.

>So, the difficulty level for special treatment is correspondingly high.

>People in this world have a lot of money.

“I agree. I heard that the amount of money spent per child is increasing due to the declining birth rate. I heard that one out of every four children in urban areas takes the entrance examination for junior high school. It’s the times we live in.”

>You said wwww

>The line of a salaryman with a family www

>So all you have to do now is wait for graduation?

“You think so, don’t you?”

>Ah

>Right

>The time has finally come.

The biggest enemy of all is just around the corner: taxes.

“So here we are. It’s time to file your tax return!”

>Gya~~~~!?

>I don’t want to hear it

>I have to do it too

“Isn’t that weird? I thought I’ll take it easy until graduation after the exams were over!”

>Time flies so fast.

>I thought you just did it the other day.

>There’s so much to do, and it’s so confusing. I hate it.

“I guess I’m better off because I have a tax accountant, but it’s still several times more complicated than I thought.

But that doesn’t mean I can’t do it.

It would be a crime.

If you’re a company employee, you’ll only lose money if you don’t file a tax return.

Income tax has already been deducted from their wages through withholding tax.

Therefore, if you file an income tax return, you will only get back the amount you overpaid.

The company even does the final tax return for you in a year-end adjustment.

However, this isn’t the case for those who are self-employed.

This is because they haven’t paid income tax yet.

Therefore, if they do not file an income tax return. They gain an advantage.

Therefore, they’re severely punished for tax evasion.

“The tax accountant said, [this is your first time, so let’s do it as soon as possible.].”

Both the tax return and the tax payment are due from mid-February to mid-March.

If you’re late, you will be charged overdue tax or lose deductions, and you will be out of luck.

>If you have as much income as Iroha, you should file a blue tax return.

>What’s that? Don’t you have to file a blue tax return in advance?

>I thought they started withholding taxes on MyTube earnings.

“I heard it again, so maybe there’s a misunderstanding.”

First, there are two types of tax returns: white and blue.

Filing a white return is easy, but deductions are small. Filing a blue return is more complicated, but you get more deductions.

The more deductions you take, the lower your taxes.

If you are self-employed and earn more than a certain amount, filing a blue return is more advantageous.

The maximum deduction is 550,000 yen x tax rate.

To put it bluntly, if you file a blue tax return, you can get 100,000 yen or 200,000 yen.

You can understand how important it is to file a blue tax return.

There are certain conditions for filing a blue tax return.

One of them is to apply for approval within two months of starting the business.

>I’m sure a lot of people don’t know that.

>I couldn’t file a blue tax return my first year because of this.

>This is exactly the kind of thing that should be taught in compulsory education.

“I agree. I would never have done it if Ah-nee hadn’t told me.”

As for MyTube’s withholding taxes, it’s true.

The terms and conditions have been revised, and it is now so.

However, the withholding tax is only collected in the US.

So, if they don’t change the rules, you will be taxed both in the U.S. and Japan.

Double taxation is a recipe for bankruptcy.

Fortunately, however, Japan and the U.S. have a tax treaty.

By filing a “tax information report” on MyTube, the tax rate collected by the U.S. can be decreased to 0%.

It’s said that Brazil, India, Vietnam, and other countries that don’t have tax treaties with the U.S. are in a difficult situation.

I heard that 30% of the revenue from U.S. viewers disappears in taxes.

By the way, I filed my tax information as soon as I monetized.

My number was required for that.

“What a convenient thing to have my number card. I can check it right away in a case like this.”

Especially in my case, I’m a minor and don’t have a driver’s license.

There are many situations where I have to submit it as an ID card with my picture.

I’m glad I made one before I debuted, as Ah-nee told me to do so.

>Maybe I should make one too.

>I think you get 20,000 yen worth of points for everything now, right?

>I don’t know how I’ll use it, but I made it just to get the points.

“I don’t know how much more I can do for tax purposes. I’m still going to need more.”

I dread to think how much it will cost.

In some cases, they even have to pay half of next year’s taxes in advance.

I feel like I’m going bankrupt.

>Oh?

>I don’t think that means anything other than the entrance fee.

>Is it finally time to unveil that thing!?

“What? No, but…? The most important thing I’ll do is spoil all my oshi at the Valentine’s Day event! In other words, to buy chocolates from all my oshi!”

>Why would you do that? Why would you do that?

I got a total tsukkomi from the chats.