Nagamine & Mishima Consulting

Accounting practice since 1989

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When I am considering buying a property in Japan, what taxes should I be aware of?

May 10, 2012

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 registration and license tax is a national tax imposed on a person who registers a real estate.

3) Stamp tax (Inshi Zei)
The stamp tax is a national tax imposed on a person who prepares contracts concerning transfer of real property.

4) Fixed assets tax (Kotei Shisan Zei)
The fixed assets tax is a municipal flat-rate tax imposed on the registered owner of property located in cities, towns, and villages according to the tax rules as of 1st January of each year.

5) City planning tax (Toshi Keikaku Zei)
The city planning tax is a specific purpose local tax used to fund urban development projects. It is imposed by municipalities that are engaged in projects under the City Planning Law and Land Readjustment Law.

Also, Income tax and Local inhabitant tax would be imposed if you have incomes of sale or rent generated from the property in Japan.

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People are Talking

  • “The launch of Berry Bros. & Rudd Limited’s Japanese branch in November 2008 required the support of a knowledgeable, reliable and professional accounting firm and we were therefore fortunate to find all of these qualities working with the Nagamine & Mishima Accounting Office.

    Since assisting us with the initial set-up, N&M have managed our monthly and year-end Accounts as well as handling our Payroll, ensuring compliance with Tax regulations and filing annual Tax Returns and supervising year-end stock counts.  They respond to all queries in a very timely manner, their work is of a high consistency and their approach friendly.

    With N&M assistance we have confidence in the controls and integrity of the accounting information for our Japanese operations.”

    Philip Duggan, Finance Director

    Berry Bros. & Rudd Limited Japan branch