みなと国際会計事務所 Accounting Intelligence blog by a CPA in Tokyo

みなと国際会計事務所 Accounting Intelligence blog by a CPA in Tokyo, tax tips, accounting, running business

Inheritance (Estate) Tax

Overview

Inheritance tax is payable if the total valuation of the estate asset in net is bigger than 30,000,000 yen plus 6,000,000 yen per heirs.

The lowest tax rate is 10% and it can go up to 55% depending on the tax base.

Calculation

Soon to be coming here..

Recent Change

Inheritance Tax Law changed a lot since April 2017. There are rules that make the scope of taxable assets both wider and narrower. Good news is that a person who came to Japan for work on an assignment from foreign countries becomes exempt from Japanese Inheritance Tax on overseas estate if she has lived in Japan no more than 10 years in the past 15 years. If this person obtains a visa that allows a permanent stay such as Permanent Residency and Spouse visa, she will be taxable on global assets.

改正案① : 課税の強化⤴

国内に住所を有しない者であって日本国籍を有する相続人等に係る相続税の納税義務について、国外財産が相続税の課税対象外とされる要件を、被相続人等及び相続人等が相続開始前10年(現行:5年)以内のいずれの時においても国内に住所を有したことがないこととする。

A person with Japanese nationality or foreigners with certain visa that allows to stay permanently who has not have domicile for more than 10 years in Japan will be exempt of inheritance tax on assets outside of Japan. (Assets in Japan are still taxable to Japanese Inheritance Tax.)

改正案②: 課税の緩和⤵

被相続人等及び相続人等が一定の在留資格をもって一時的滞在をしている場合等の相続又は遺贈に係る相続税については、国内財産のみを課税対象とすることとする。

Foreigners with
Non permanent residents who live in Japan with ‘table 1’ visa under Immigration Law are only taxable on domestic assets if she has resided n Japan no more than 10 years in the past 15 years. (Assets outside of Japan are exempt from Japanese Inheritance Tax and Gift Tax Law).

改正案③: 課税の強化⤴

国内に住所を有しない者であって日本国籍を有しない相続人等が国内に住所を有しない者であって相続開始前10年以内に国内に住所を有していた被相続人等(日本国籍を有しない者であって一時的滞在をしていたものを除く。)から相続又は遺贈により取得した国外財産を、相続税の課税対象に加える。

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