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Income Tax in Japan: Report of Assets and Liabilities

High net-worth individuals receive additional scrutiny from the tax office.

If you own assets worth 300 million yen or over, or financial assets worth 100 million yen or over (which are subject to exit tax), then you should file a report for assets and liabilities together with your income tax return.

This report shows the value of the assets, which you own as of December 31 of the calendar year for which the income tax return applies.

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