2017 Tax Reform - Inheritance Tax/Gift Tax - Amendments to Scope of Tax Payment Obligations

2017 Tax Reform - Inheritance Tax/Gift Tax

Under the 2017 tax reform, the scope of the tax payment obligations of inheritance tax/gift tax was amended.

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Inheritance tax/gift tax will not be imposed on properties located outside Japan with respect to inheritance/gifts involving foreign people living or having lived temporarily in Japan under certain conditions in order to encourage foreign people to live and work in Japan. On the other hand, certain cases have been added to those where inheritance tax/gift tax is imposed on all properties in order to deter tax saving by Japanese wealthy people through relocating outside Japan.

Contents

  1. Scope of Tax Payment Obligations – Before Amendment
  2. Scope of Tax Payment Obligations – After Amendment
  3. Timing of Application

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