Private pension plans
Posted: Mon Jun 10, 2024 5:34 am
Does anybody know how foreign PRIVATE pension plans are taxed in Japan, where I will be a resident?
I have contributed some after-tax money to such a plan, which invests in various stock, real-estate, etc. funds.
Over the years my investment has approximately doubled in value.
I can convert my investment and its earnings (about 50-50) to an annuity or withdraw it in chunks.
The other country will tax the earnings as income.
Then Japan will tax too. Bilateral double-tax treaties should offer a bit of protection, though on which side I don't know.
Since I have no idea what schemes are used in Japan to calculate taxes on such money, I also have no idea what the best option is, besides to move out of Japan.
Any advice besides "speak to a professional" (eventually I will!) would be greatly appreciated.
I have contributed some after-tax money to such a plan, which invests in various stock, real-estate, etc. funds.
Over the years my investment has approximately doubled in value.
I can convert my investment and its earnings (about 50-50) to an annuity or withdraw it in chunks.
The other country will tax the earnings as income.
Then Japan will tax too. Bilateral double-tax treaties should offer a bit of protection, though on which side I don't know.
Since I have no idea what schemes are used in Japan to calculate taxes on such money, I also have no idea what the best option is, besides to move out of Japan.
Any advice besides "speak to a professional" (eventually I will!) would be greatly appreciated.