Talk about tax and corporate finance in Japan
Well known structure Buying properties abroad has become a well known structure for saving setting among individuals in high income tax brackets. Properties abroad are especially popular because of two major reasons. 1) The split of the cost between building and land is much more favorable overseas. In Japan, especially in urban area, land portion … Read More “Well known tax saving setting by buying properties abroad” »
Exit Tax came to place Exit Tax is an important topic for foreigners living in Japan, especially for those who have their saving in stocks. This tax is newly introduced from 2016 to punish wealthy Japanese nationals moving overseas. According to the newly introduced taxation, if you have stocks with unrealized gain, no matter which … Read More “Exit Tax” »
The definition of non-resident is defined by the definition of resident under Japanese tax law. A non-resident is a person who is not a resident. It looks very clear, but it is sometime difficult to tell whether one is a resident or non-resident and it often becomes one of the hot subjects for heated discussion … Read More “Blurred line between Resident and non-resident” »
I was asked about EXIT Tax of Japan recently and made some recap. EXIT Tax can potentially be applicable to rich people who has foot steps in both Japan and other countries and owns Japanese stocks. Capital gain on Japanese Stock are free of tax for non-resident Capital gain from stock transactions are tax free … Read More “Japanese Exit Tax on stocks” »
You can claim your family members or relatives living overseas as your dependents. You will reduce your taxable income by 380,000 yen per person. It has a significant impact on your tax to pay. I had a client who came from an African county and he claimed about 10 dependents living over there. By claiming … Read More “Deduction for dependents living overseas” »
(At Purchase) Property price consists of land and building portion. Consumption tax (equivalent of Value added tax or General Sales Tax) is charged on building portion. Land is free of Consumption Tax. The consumption tax rate is 8%. (At Operation) Corporate tenants and sole proprietor individuals have to deduct 10.21% from rent payment. For example, … Read More “Tax on properties for non-resident of Japan” »
One of the frequently asked questions to me is whether tax can be saved by investing overseas. My answer is yes, you can but be careful. The reason you can save your income tax or corporate tax is because of the life year of assets. It is not common in Japan but apparently a house … Read More “Tax saving by investing properties overseas” »
国外転出時課税制度(FAQ)(by 国税庁 H27年４月)を一部英訳しました。 長いので徐々に訳していきたいと思います。また、国税庁の日本語は税法的に厳密になるように回りくどい表現になっていますが、英語版では分かりやすさを優先しています。 Q１国外転出時課税制度について教えてください。 Q1 Explain about Exit Tax A1 Exit tax has been introduced in Year (Heisei) 27 tax revision and it will be enforced from July 1, 2015. In the following 3 situations, a person who has qualified asset (e.g. securities and unsettled future or option contracts as described more in detail … Read More “一部英訳 国外転出時課税制度Exit Tax (FAQ)(by 国税庁 H27年４月)” »
アメリカのお客様に聞かれたので、英語にしてみました。アメリカに住んでいても、住宅借入金特別控除が使えるとか、色々誤解もあるようです。 そもそも、「住宅」なので、居住者であることが前提だと思われます。 Mortgage deduction is to reduce your income tax by 1% of your loan balance (at maximum) for next 10-15 years. The impact is huge and you should not miss it. Mortgage deduction is applicable to a house only in Japan because the deduction is only for residents in Japan. The following documents are … Read More “Mortgage deduction 住宅借入金特別控除” »
