RetireJapan

Or maybe not... The CPA I consulted has contacted me to reverse his initial statement. He now claims that the Japanese tax authority will use the "fair market value" of the property for the inheritance tax — not its taxable value under US law —, and that I should consider retaining him to ...

Following up... I spoke with a Japanese CPA and it seems the basic deduction under Japanese tax law is higher than the assessed value of my property, so there is no tax to pay and, according to the CPA, no obligation to file an inheritance tax return. What I learned is that while Japan charges inher...

Haven't talked with an accountant yet, but I found this: http://www.ata-tax.jp/service/index02_en.html When an inheritance has any foreign element in either decedent, successor or asset, the related party needs to see which country of law governs the inheritance. Act on General Rules for Application...

Yes, hopefully an accountant can help clear that up. I did notice the following comment on the main article on your site: http://www.retirejapan.info/blog/tax-residence-and-inheritance-tax#comments Apparently, if you inherit land in America, the American tax laws are used. But cash is different. Jap...

The house is in very bad condition and cannot be rented at market value. All the value is in the land. There is a mortgage and I have other debts. I have already been denied loans against the house several times. No way I'm going to get a $150,000 or $200,000 loan to pay the Japanese govt. The only ...

Thanks, all, for your thoughts on this. I will seek out an accountant, but the main issue is simply that I don't have the resources to pay 25 or 20 or 15m tax, or whatever. The only option would be to sell the house, which pretty much blows a hole in my retirement plan. A re-appraisal, or a 6 millio...

Thanks for your quick response. Much appreciated at a moment when my idea to retire in Japan appears to be going up in smoke. An attempt to answer the questions: 1. Entire estate was appraised at around $1m; it's just land and a house, nothing else 2. There were no taxes on this back home 3. I am th...

This just came onto the radar screen. Trying to understand my situation. Long-term resident, spouse of Japanese national. I've been paying taxes in Japan and my home country. I've recently inherited a house from my parents back home. The land is valuable. If the house + property was appraised at $1m...