Selling Gold in Japan

[Yatsushiro2]

Is that how it works?

I suspect not.

Probably more like the 10% goes to the government for every transaction, so they keep making 10% every time the same piece of gold is sold.

Perhaps I am being too cynical.

[Silversurfer]

I have sold gold on two occasions in Japan and made a small profit each time. The first time, I went to a place called DAIKOKUYA in Tokyo. It took about thirty minutes in all. They asked me where I got the gold. I told them. They tested the gold. It passed the test. They photographed my identity document, don’t remember which one. They plopped down cash on the table. Gave me a receipt. Very straightforward. I walked out, threw away the receipt and had breakfast at a place called Denny’s near the Yaesu exit of Tokyo Station. I was clean-shaven, polite and properly dressed. I didn’t look like some clodhopper down on his luck with frayed collars and a three-day growth.

Oh, and they paid me spot. I was very surprised. Still wonder why. I went back a few months later and sold more. I’m building a relationship with that branch because THAT’S THE WAY TO DO IT.

[ghodlin]

Related question.

I bought gold on Rakuten shoken. Value went up and made a good profit when I sold it. Do I need to declare this at tax filing time? If so is it taxed at same rate at capital gains? Or taxed at income tax progressive rates?

[RetireJapan]

Related question.

I bought gold on Rakuten shoken. Value went up and made a good profit when I sold it. Do I need to declare this at tax filing time? If so is it taxed at same rate at capital gains? Or taxed at income tax progressive rates?

Seems slightly complicated. Articles online say you don't owe tax if the profit is under 500,000 yen.
http://www.wakabayashi-tax.jp/category/1579079.html

[ghodlin]

Thanks, that’s useful. Profit is well over that threshold but hopefully I can benefit from that. Will let my tax accountant work it out when the time comes.

Wouldn’t recommend gold as an investment but I did get lucky over the last couple years!