#049

My name is Sadayasu Ito, a Japanese certified tax accountant. I am helping those who wish to start business in Japan. Please contact me if you are looking for advice.

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Sadywell Japan Tax & Accounting: http://en.sadywell.com
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For instance, if you have any of the following problems, please let me know. I am happy to help you.

I want to set up a company and start business in Japan
I need to file tax returns but do not know how to do it.
I want someone to do my company’s bookkeeping.
I want to know how I can save my tax.
I want to acquire or renew my visa.

For more details of our services, please visit our website:
http://en.sadywell.com

**Summary of today’s lecture**

Today’s lecture is about “International inheritance”

What happens if your parents pass away when you are living in Japan?

There are three types of tax payer under the Japanese tax law.

A Unlimited tax payer living in Japan
B Unlimited tax payer living overseas
C Limited tax payer

The above definitions are very important because taxable assets are different for these three types.

A Unlimited tax payer living in Japan
Definition:
1. Successor who lives in Japan at the timing of inheritance
2. Does not matter whether the successor is a Japanese citizen or not
3. Temporally visit is not included

Taxable assets:
All assets in Japan and overseas

B Unlimited tax payer living overseas
Case 1
Successor is a Japanese citizen
Successor lives overseas at the timing of inheritance
Successor or ancestor used to have domicile in Japan within 5 years before the inheritance
Case 2
Successor is not a Japanese citizen
Successor lives overseas at the timing of inheritance
Ancestor lives in Japan at the timing of inheritance

Taxable assets:
All assets in Japan and overseas


C Limited tax payer
Case 1
Successor is a Japanese citizen
Successor lives overseas at the timing of inheritance
Neither successor nor ancestor has not had domicile in Japan within 5 years before the inheritance
Case 2
Successor is not a Japanese citizen
Successor lives overseas at the timing of inheritance
Ancestor does not live in Japan at the timing of inheritance

Taxable assets:
Only assets in Japan