The following taxes would be imposed when you purchase a property in Japan. 1) Real property acquisition tax (Fudosan Shutoku Zei) The real property acquisition tax is a prefectural tax on individuals who acquire land or who acquire houses located in the prefecture during the year. 2) Registration and license tax (Toroku Menkyo Zei) The… [Read More]
When I am considering buying a property in Japan, what taxes should I be aware of?
One of our employees died recently, of a heart attack outside work hours. We don’t think it was work related and there doesn’t appear to be any claim by the survivors to that effect. Is the company obligated to pay anything to the surviving family? If so, what is the legal or customary amount?
◇Cause of Death First of all, it is important to make sure the employee’s death is truly not work-related even if the employer and the survivors are both convinced it is not. If an employee worked approximately 100 hours of overtime in a month or 80 hours of overtime per month for 6 months prior… [Read More]
Introduction of CCH Seminar: Key Issues for Directors; Smooth Management and Avoiding Risks in Japan
Operating companies is difficult in any environment, and doubly so when you’re in a culture different from your own. The Representative Director of a K.K. (or Executive manager of a GK) needs to have a good understanding of the various issues surrounding your role. In this seminar, we will examine the key issues of what… [Read More]
I’m a US citizen living in Japan less than 5 years, and I have rental income from an apartment in the USA. Do I have to declare this income in Japan?
If you aren’t a Japanese national and have lived in Japan for less than 5 years in the past 10 years, you are classified as a “Non-permanent resident” under Japanese income tax law. Non –permanent residents are subject to Japanese income tax for the following types of income: ・Income generated from business operations in Japan… [Read More]
To the world readers of the WEB."Regarding the earthquake 3.11 and after"
First of all, I would like to express my sincere thanks as a Japanese citizen for the warm messages, assistance, rescue efforts and financial aid that were extended to us from around the world in the wake of the March 11th earthquake. The natural disaster was a tragedy of unprecedented scale and magnitude, one that… [Read More]