2017 Feb G3 – Recent Developments on Inheritance Tax in Japan

Taxation is always an area of great interest. Japan is a excellent place to live but changes by the Japanese government meant to catch rich Japanese residents coming in and out of Japan have also accidentally applied to foreign residents of Japan as well. In early December, the FY17 proposed tax reforms were announced, which included some changes to the Japan inheritance tax laws. The proposed reforms were light on details and as the bill has not been introduced in the Diet yet there are still some open questions and issues. Nonetheless, experts do expect these changes, especially the ones that would extend the period of time that Japanese nationals and long-term foreigners would continue to be subject to Japan gift and inheritance tax after moving out of Japan to potentially have a significant impact on future estate planning. CI members will discuss these changes and the impact on our businesses and professional lives.

In the February CEO Insights luncheon we will welcome PWC Partner Mr. Nasir Majid who is running the International Assignment Services (IAS) practice in Tokyo at the global firm. He will share the latest updates on the changes going on in government and give you his insights on how to prepare for possible changes.