RetireJapan

Can anyone clarify with certainty the question of the exemption of 6m "per heir". This post suggests the "6m per heir" applies only to heirs who are in Japan and not to heirs domiciled overseas. But I have read in other posts on this forum, and on other websites, that it applies...

I appreciate your concise reply, as always. I am unclear about the 20% surtax you mentioned, however. Where does that originate? Is this independent of the inheritance tax? If you are not a direct blood relative; parent spouse or child, such as a grandchild or non-blood-relative, then the inheritan...

Hello everyone. I hope that someone can help me with a Foreign Income Tax Credit question. I need to file a US tax return and a Japanese tax return, as always. This year in the US, I had a large amount of US savings bonds come due, which I cashed all together in September. The estimated tax on the ...

I want to make a few correction/clarification to responses in this thread. The time you are away from Japan (called Zaigai kikan - 在外期間) after you already became a non-permanent resident _does count_ against the 5 year clock to becoming a permanent resident for tax purpose. Basically, you have a pla...

Bubblegun, I totally agree. Japan definitely has a serious issue with the super aging population, wages not going up, and pension declining using "macro-slide formula". What is Macro-slide formula anyway? Some type of excuse to lower the pension in order to keep it from bankrupting the who...

I found a recent article posted on the web site of a company that specializes in international tax services which argues that Japanese Nenkin should also be exempt from the WEP. They cite the Israeli case as precedent for this: https://www.cdhcpa.com/receiving-japans-pension-trigger-wep/ Seems they...

Why would you be paying INTO Japanese pension when you're not in Japan nor a Japanese national. I'm not a lawyer but that sounds like pension fraud. Because, if I have paid in Japan for some years, I will lose them all if I cancel (yeah I know I can get some money back on leaving). And the idea tha...

I hope this will help those considering giving up their U.S. Citizenship or U.S. Green card or for those whom are already a U.S. Covered Expatriate. There's a ton of misinformation out there even from professional CPA's. U.S. Citizens whom renounce their citizenship or a Long Term Resident whom give...

In U.S. Japan Tax Treaty, Article 18, Paragraph 2, if you're a U.S. Citizen living in Japan with a government pension (other than U.S. Social Security), such pension is only taxable in the U.S. Article 1 paragraph 5 exempts article 18 from Savings Clause in Article 1 paragraph 4 therefore, Japan sho...

Therefore, for a US Citizen, any US derived pensions and 401k will be taxable in the US and Japan, and you would have to claim a Foreign Tax Credit in Japan for the Taxes paid in the US. Very close to correct. Look at article 23 very closely. Japan only is obligated to give foreign tax credit to th...