Residents who have lived in Japan for over 5 years in the last 10 (not including time spent on work visa or business manager visa) and who own financial assets worth over 100 million yen are subject to exit tax when they leave the country.
Exit tax is paid through your income tax return, and the aforementioned financial assets are counted at their price 3 months prior to your intended departure date.
Before the 2022 tax reform, a business who wants to apply the Electronic Book Preservation act had to obtain approval from the local tax office.
Last week, we talked about the foreign dependent deduction a little bit. Now let’s see what kind of documents are needed when claiming this deduction.
Company establishment and accounting can be complicated in Japan.
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Established in 1984,
Seventh Sense Group offers full-service accounting services including tax compliance, bookkeeping, payroll, and company establishment.