Hi all
I’m trying to work out how to calculate my potential inheritance tax liability. Looking at the tax rate table, there is a tax rate column and a deductions column.
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Does that mean, for example, if I inherit 600MM Yen, I pay tax on 55% of the entire amount less the deduction of 72MM Yen? Or is it a marginal tax rate (i.e. I pay 15% of the amount between 10-30MM Yen, 20% on the amount between 30MM to 50MM Yen, etc. all the way to 55% on anything above 600MM Yen)?
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2 comments
It’s a marginal tax rate on the amounts after deductions.
Check here from the other day https://www.reddit.com/r/JapanFinance/comments/14y5mut/inheritance_tax_heirs_and_spouses/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&utm_content=2&utm_term=22