Hi all,
I inherited a tiny bit of land abroad with value of around JPY 1.5M. I think that this amount is not enough to trigger the lowest inheritance tax (less than JPY 30M). How about when I end up selling this land? Is that still treated as part of the inheritance (just liquidating it) and I don’t need to report anything or pay taxes on it?
Or.. am I liable to pay taxes on it? I have no idea what the initial value of that property was some 50 years ago.
In the past 10 years, I lived in Japan for 5 of them.
by oles007