Osaka tax haven probe finds wealthy individual, kin failed to declare almost $40 mil.
The building housing the Osaka Regional Taxation Bureau is pictured in Osaka’s Chuo Ward in October 2022. (Mainichi/Ryo Numata) OSAKA — A…
Ministry OKs Kyoto city’s plan to tax vacant properties
KYOTO—The central government approved Kyoto city’s plan to impose a tax on unoccupied homes and villas in hopes of prompting their owners to either inhabit, rent or sell the properties.…
Kyoto to introduce “empty home tax” for vacation houses and unused houses
Initially-of-its-kind tax would carry in just about just one billion yen, but authorities states it’s not about the cash. Temples and shrines are the 1st factors that spring to mind…
Japan considers tax break evaluate to slash range of vacant households
Abandoned households, some so dilapidated that they pose a hazard, are significantly dotting Japan’s landscape, and not just in rural areas. The federal government is making an attempt to deal…
Singaporeans hit the malls on smart shopping spree before sales tax hike
By Chen Lin and Isabel Kua SINGAPORE (Reuters) – Singaporean Soif Noor has already bought furniture and appliances for his new home, four months before he can move in. Like…
How do I invest my inheritance if I’m in a low income tax bracket?
Close up of Canadian banknotes (CAD) background By Julie Cazzin with Janet Gray Q: I just sold five paintings from my parents’ art collection. Both my parents are deceased and…
Snapshot: tax considerations for private clients in Japan
Tax Residence and domicile How does an individual become taxable in your jurisdiction? The main tax imposed on an individual’s income is income tax under the Income Tax Act. An…
In review: corporate tax planning developments in Japan
All questions Local developments i Entity selection and business operationsEntity forms In Japan, corporations are used for conducting business, and partnerships, such as general partnerships, limited liability partnerships and investment…
Tax Issues Arising from M&A in Japan
This article is taken from GTDT Practice Guide: Japan M&A. Click here for the full guide. Introduction This chapter focuses on tax issues of importance to M&A dealmakers working with…
Kyoto to tax empty houses as Japan’s population shrinks
The ancient Japanese city of Kyoto is devising a tax to tackle the demographic challenges of a country where the population is declining at a rate of about 1,500 people…