Annual property taxes won’t increase next year
The government plans to keep annual property taxes (kotei-shisanzei) for the 2021 year at the same level as those in 2020. This means property owners of commercial and residential land that had seen tax valuations increase just prior to the coronavirus, won’t be stuck with a higher tax bill in 2021.
NTA says no to revising rosenka land tax values
Bad news for some as the National Tax Agency (NTA) has decided not to re-adjust rosenka land tax values in light of the pandemic. It seems that land values have not fallen enough to trigger any revision.
Tax Agency considering special measures if land prices drop significantly
The National Tax Agency (NTA) is, according to the Nikkei Shimbun newspaper, working on a plan that could see rosenka land values re-adjusted in the event of a severe drop in market prices.
Tax depreciation on overseas real estate to end in 2021
Investing in highly-depreciable real estate overseas will quickly lose its appeal for Japan-based investors as the Japanese government closes a tax loophole.
Niseko now has an accommodation tax
The popular ski resort of Niseko in Hokkaido has joined the ranks of districts with accommodation taxes. Kutchan Town introduced the tax on November 1. It will apply to all types of accommodation providers, including hotels and minpaku-style operators.
Tax bureau busts foreign investors in Niseko
The Sapporo Regional Taxation Bureau has identified several domestic and foreign real estate companies and investors for failing to declare income made on real estate transactions in Niseko. Some say this recent bust may just be the tip of the iceberg.