Hi, first of all thank you for all your helpful replied. I've learn a lot from this reddit; and now I have a fairly specific case I would need any kind of tip of information to educate myself more. I'll try to be concise and summarize the questions at the end.
I'm a japanese citizen living in japan, but I was a foreigner when my father passed away. At that time, I was on my 3rd year with a working (Humanities) SoR. I naturalized a couple years later.
I understand that anything I inherited from my foreign father, who never touched Japan and had no assets here, is exempt from japanese inheritance tax, as I was a Table 1 visa resident with less than 10 years domicile. (understanding #1)
I recently got transferred some equity on my late father's company (inheritances are very slow in my birth country -not the US nor Europe-). Say 25% stocks on a unlisted company (similar to a K.K.) and 25% equity on a second company (similar to a G.K.). Even if I got them under my name this year, they were transferred by a judge on my father inheritance process, and to Japan I acquired them on the date of the decease, not now. I also inherited the acquisition date/cost from my father. (understanding #2). He got his equity/company over 30 years ago and have no way of knowing the real acquisition cost.
Now, I plan to sell them and get rid of all that. Suppose these numbers and scenarios:
-Sold all my stocks/equity (25% of both companies) for 300k USD.-Local taxes, 5k USD. Lawyer and minor costs, 5k USD.
4) Are the loses/gains from the BTC transactions part of the cost/gains", or are not part of the equation for capital gains tax?
5) Would any of the calculations from question 2) change?
6) How is taken into account a big sale made in installments? I'll be due to pay full tax on the first year?
7) If transfer costs (or money lost due to BTC spread) are deducted from the taxable income, how will it work with costs that I dont know how will they be on the following years?
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Sorry for the long post. English is not my main language so if something is unclear Ill try to clarify.
If I get to sell this equity, it will probably be in installments over multiple years, and I fear that I wont have all the information (transfer costs) or the money for the full ammount of tax on the first year.
Thank you.
I'm a japanese citizen living in japan, but I was a foreigner when my father passed away. At that time, I was on my 3rd year with a working (Humanities) SoR. I naturalized a couple years later.
I understand that anything I inherited from my foreign father, who never touched Japan and had no assets here, is exempt from japanese inheritance tax, as I was a Table 1 visa resident with less than 10 years domicile. (understanding #1)
I recently got transferred some equity on my late father's company (inheritances are very slow in my birth country -not the US nor Europe-). Say 25% stocks on a unlisted company (similar to a K.K.) and 25% equity on a second company (similar to a G.K.). Even if I got them under my name this year, they were transferred by a judge on my father inheritance process, and to Japan I acquired them on the date of the decease, not now. I also inherited the acquisition date/cost from my father. (understanding #2). He got his equity/company over 30 years ago and have no way of knowing the real acquisition cost.
Now, I plan to sell them and get rid of all that. Suppose these numbers and scenarios:
-Sold all my stocks/equity (25% of both companies) for 300k USD.-Local taxes, 5k USD. Lawyer and minor costs, 5k USD.
- Are my both assumptions regarding inheritance (#1 and #2) correct?
- What is my capital gain liability on this sale? What would be the taxable income part? Do I get 50% reduction for being a "long-term" gain? What would be the tax rate, and applied to which ammount? Is it aggragated taxation (I do 確定申告 because I have 給与所得 and 事業所得), or separate taxation?
- Are the transfer fees to japan part of the "cost", or are not part of the equation for capital gains tax?
4) Are the loses/gains from the BTC transactions part of the cost/gains", or are not part of the equation for capital gains tax?
5) Would any of the calculations from question 2) change?
6) How is taken into account a big sale made in installments? I'll be due to pay full tax on the first year?
7) If transfer costs (or money lost due to BTC spread) are deducted from the taxable income, how will it work with costs that I dont know how will they be on the following years?
---------
Sorry for the long post. English is not my main language so if something is unclear Ill try to clarify.
If I get to sell this equity, it will probably be in installments over multiple years, and I fear that I wont have all the information (transfer costs) or the money for the full ammount of tax on the first year.
Thank you.