Understanding Japan’s New Exit Tax

Understanding Japan’s New Exit Tax

Residents who move abroad will have to pay up

Japan has always been a high tax country, but things have been getting increasingly worse for Japanese taxpayers in recent years. As of 2015, the top income tax rate is now a nose-bleeding high level of almost 56 percent (national and local tax rates combined) on taxable income in excess of 40 million Japanese yen (approximately U.S. $333,333). Both the inheritance and gift top tax rates have also increased to 55 percent (see “Japan’s Tax Rates,” p. 51). Finally, and per

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