Small Enterprise Mutual Relief: Who Qualifies and What You Get
Learn how the Small Enterprise Mutual Relief scheme provides a tax-advantaged retirement savings plan for sole proprietors and small business owners.
This scheme is a retirement savings plan designed specifically to help self-employed individuals build up funds for their later years.
Who it's for
This program is available to sole proprietors and owners of small businesses.
What you get
You receive a way to save money for retirement that offers tax advantages. It functions as a specialized savings vehicle to help ensure you have funds when you stop working.
What it costs you
You make monthly contributions to the plan. You can choose an amount between ¥1,000 and ¥70,000 each month. These contributions are fully tax-deductible, which can help lower your taxable income.
The catch to know
This is intended for long-term savings. If you decide to withdraw your funds before you reach retirement, you might receive less than the total amount of principal you originally paid into the plan.
How to apply
- Review the contribution amounts and tax benefits on the official website.
- Prepare the necessary documentation for your business status.
- Follow the application steps provided by the issuing body.