In 2022, I started a tax consulting service for foreigners living in Nagoya and its suburbs. At the same time, I have started trying to publish in English.
In addition to writing various thoughts on Japanese taxes, I will also provide a brief introduction to the Japanese tax system. I plan to publish once a month, alternating with the Japanese version.
In this issue, I will introduce some of the Japanese inheritance tax system.
Retirement benefits that should have been paid to the decedent and were received as a result of the decedent’s death, but were confirmed within three years of the decedent’s death, are considered inherited property.
However, no inheritance tax is levied on the exempt portion.
The maximum tax-free amount is 5 million yen x the number of legal heirs.
This refers to the pension benefits to be received by the heirs upon the decedent’s death, as opposed to the pension benefits already received by the decedent during his lifetime.