Taxes in Japan – JAPAN PROPERTY CENTRAL K.K.

Kyoto may be first city in Japan to introduce a tax on empty homes

Kyoto City is looking at introducing a special tax on vacant ‘akiya’ homes, in what could become the first akiya tax in Japan.

by Zoe Ward

Commercial landowners will likely receive a tax break in 2022

Both the Komeito political party and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) are seeking that property taxes for commercial land receive some kind of tax relief next year. The leading Liberal Democratic Party also seems to be in favor of this measure.

by Zoe Ward

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.

by Zoe Ward

Consumption Tax Increase: How will it affect buying apartments still under construction?

With the planned increase in consumption tax receiving approval by Parliament last Friday, buyers of as-yet uncompleted apartments may be hit with the higher tax.

According to the tax plan agreed to on August 10, the consumption tax will increase to 8% from April 1, 2014, and 10% from October 1, 2015.Read more

by Zoe Ward

Revisions to inheritance tax in Japan

There has been recent movement to increase the inheritance taxes and reduce the tax deductions as a way to distribute wealth. Osaka Mayor Toru Hashimoto has even suggested collecting the entire inheritance so that no wealth is passed onto the next generation.

The revision to the inheritance taxes in Japan was scheduled to go in effect from April 2011, but was delayed due to the Tohoku disaster. The current economic climate suggests that taxes will be increased, and the terms of the increases may be decided this year.Read more

by Zoe Ward