2011/08/26

170-Age of provision for accession tax in Japan

Nearly 1.5 million accessions take place every year in Japan. 2011year amendment of Accession Tax Act beefed up taxation regime. Mainly following is focal point.

1.Reduced basic abatement
2.Reduced nontaxable received amount of insurance
3.Expansion of tax rate

Now, 4.1% of accession took placed in 2009, must pay accession tax. In the future, 7% is going to be subjected to pay tax because of the amendment.
Especially in Tokyo, 24% is said to have to pay tax.

50 trillion yen of accession tax is said to be withheld every year. Accession Tax Act will have more important and more influential roles after a short time.

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