This is a question about taxes on gifts
I am a permanent resident in Japan, and recently my parents (living outside of Japan) decided to give me some money as gift.
Upon some search on the internet, most resources I found suggests that in this case I have to pay a rather steep gift-tax in Japan (30-40% is once we talk about millions of yens). I couldn’t find any information about:
– Is there a different tax table if the giver is my direct relative (my parents) or is it the same rate independent from the relationship?
– Is there any way to lower this tax rate (eg investing the money)?
Also, I am curious about the technicalities. Since the money is outside of Japan, should I get some statement from my parents that this gift happened together with the proofs of money transfer?
Thanks for any advice
by belaGJ
