I have some funds invested in our favourite eMaxis Slim All Country, but in a taxable account.
The taxable account is set up so that, if I sell any of the shares, the capital gains tax will automatically be calculated and paid.
My question is: would I also have to declare any of the profits from the sale as my personal income? Or is the capital gains tax (already paid at the moment of sale) the only tax I would have to pay?
Thank you!
When selling shares: need to also declare as income?
Re: When selling shares: need to also declare as income?
If that is a "tokutei" account (特定口座) which is deducting the capital gains at the time of sale there is no other reporting you would need to do for Japanese taxes.
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Re: When selling shares: need to also declare as income?
Specifically you would seem to have the tax withholding variety.
There may be cases where you would still benefit from filing a tax return and reporting such income - for example in relation to furusato nozei, and others. But never mind if you just want to be sure you needn’t report it.
There may be cases where you would still benefit from filing a tax return and reporting such income - for example in relation to furusato nozei, and others. But never mind if you just want to be sure you needn’t report it.