Confirming my understanding
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Re: Confirming my understanding
I believe simply moving money to Japan is not a taxable event, providing your taxes/declarations are up to date.
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eMaxis Slim Shady
eMaxis Slim Shady
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- Sensei
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Re: Confirming my understanding
I think the two visa statuses that make you an immediate tax resident are PR and spouse. You then are taxed on your worldwide income, gains, dividends, interest, inheritances, gifts, etc.
The 5/10 year thing is for other visa types--teachers, students, specialists...
Not sure if you're there yet, but if you have the equivalent of ¥50M in assets abroad there's a separate, required form where you have to list everything--shares, real estate, and so on.
That's what I've read anyway. The people at the tax offices here are generally very helpful, so give them a call or stop by and ask.
EDIT: and poof!! a post disappeared there.
The 5/10 year thing is for other visa types--teachers, students, specialists...
Not sure if you're there yet, but if you have the equivalent of ¥50M in assets abroad there's a separate, required form where you have to list everything--shares, real estate, and so on.
That's what I've read anyway. The people at the tax offices here are generally very helpful, so give them a call or stop by and ask.
EDIT: and poof!! a post disappeared there.
- RetireJapan
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Re: Confirming my understanding
I thought you need to be here for five years to become permanently resident for tax purposes, regardless of visa status. PR and spouse make you immediately liable for inheritance tax.
I am probably wrong on that though
I am probably wrong on that though
English teacher and writer. RetireJapan founder. Avid reader.
eMaxis Slim Shady
eMaxis Slim Shady
Re: Confirming my understanding
That’s right. Tax residential status has nothing to do with your visa status. I know from personal experience. Got spouse visa almost immediately, PR after three years and became permanent for tax purposes after five.
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- Sensei
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Re: Confirming my understanding
Okay, I'll trust your direct experience, along with Ben's assessment.
Re: Confirming my understanding
I would have thought you would not have at least 5 of the last 10 years in Japan until April 2023 (five years from April 2018).OkLah! wrote: ↑Mon Nov 19, 2018 2:00 pm Noted so as long as I don’t remit to Japan my foreign income then I don’t need to declare. But once I have been here for 5 years within last 10 years then no matter if remit or not I will have to declare and pay tax.
The fact that it is independent from visa status makes sense otherwise one could arbitrage between selecting spouse or work visa.
Now if someone is kind enough to also confirm my calculation.
I was in Japan from September 2002 to October 2011. Then I was in Singapore from November 2011 to March 2018 and then in Japan again starting April 2018. From that I think I will have to pay tax worldwide from any income received after April 2020.
Correct?
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Re: Confirming my understanding
I'm with @TokyoWart. It looks to me like time from your first stay will count, but for each year that goes by, a year less of it will count (less will fall within the 10-year timeframe). It seems you'll stay in the 3+/10 year range for the next few years, and then in 2021 any time from your earlier stay will cease to count.
The tax people have always been helpful, put this on a list and ask them to confirm it the next time you get a chance.