I’m aware I also need to talk to a tax professional and ask these questions, just thinking reddit as my first stop and seeing if anyone can think of any other questions I should ask the tax person.
– New to Japan – 1st year
– ¥6M/year salary, no extra bonuses
– I’ll be considered a “contractor” instead of an employee
Questions I have:
1) How much will I be paying in taxes/insurance every month?
2) Do taxes get deducted from my paycheck even if I’m a contractor?
3) Will I pay more taxes as a contractor?
4) What do I need to do if a contractor? Set up an entity? Where and how?
5) What are the downsides of being a contractor? As far as I know is a) I don’t have the same protections as employees do, so they can let me go whenever, and b) I will be paying higher taxes, question is how much more?
6) Will I need to pay for pension the first year? I read somewhere that this comes as a lump sum bill at some point the second year?
by CelebrationNo7706