Apologies in advance if this has been asked and replied before.
Could someone help me calculate what would be the applicable taxes and the net income for the following scenario?
Let's say that someone living in Japan (non-US citizen) earns 10M JPY in dividends a year. These dividends are from US stocks. (Additional details: 30-40 years old, living in Tokyo, unemployed)
In this case, would this be a fair calculation for the supposed net income?
- 10% goes to US (IRS?) since AFAIK there is a JP-US treaty that stipulates so.
- 20.315% for income tax + residency tax (flat rate for dividend income: 所得税が15.315％ + 住民税が5％)
- 8.69% Medical insurance premiums according to to this website (?)
- 16,980 JPY for pension contribution (i.e. 203,760 a year)
This would leave out a total of 5,895,740 after taxes. Is this calculation for 手取り correct, or am I missing something?
Thank you very much in advance.
Edit: The nationality of this person is Japanese.
by Puntofijo123