“The wall of 1.03 million yen” relates to a proposal to reduce income (and resident) tax As of December politicians on the national stage have proposed to break “the wall of 1.03 million yen” (103万円の壁). But what does it mean? Under the present Japanese income tax code, the borderline between non-taxed income and taxed income… Read More »
YouAT LLC gives you services for Japanese pension and tax refunds We YouAT LLC has more than 10 year’s history to support non-Japanese employees’ “Lump-sum Withdrawal Payments”, “Old Age Pension”, and income tax refunds.We have staff of Labor and Social Security Attorney, Administrative Scrivener, and Tax Accountant. Please feel free to contact us for Japanese… Read More »
Kokumin Nenkin vs Kosei Nenkin Japanese pension system consists of, mainly, the two categories: (1) Kokumin Nenkin (National Pension), whose contribution amount is a constant no matter how much to get incomes, and (2) Kosei Nenkin (Employees’ Pension Insurance), whose contribution amount increases according to incomes contributors earn(*). (*)There is another category in Japanese pension… Read More »
The amount of lump-sum pension refund is decided by how much you contributed in the past In recent years Japanese economy has faced an inflation of prices. For Japanese old age pensions there is a system of indexation (called “price slide (物価スライド)”), through that payments of old age pensions will be adjusted following price rises.… Read More »
The latest proposal for 2025 pension systems reforms In July 2024 the council for social securities in Ministry of Health Labor and Welfare (厚生労働省) published their research for the expectation of future Japanese pension funds. It will be the foundation of the Ministry’s proposal to Japanese Diet, that is scheduled to discuss and pass a… Read More »
Overview of 2024 tax deduction and points to note (again) The special tax deduction is applied to the income tax and resident tax of the year 2024 （令和6年）. We’d like to overview it again and pick up points to note in brief. Japanese residents registered as of June 1st 2024 can receive a tax reduction… Read More »
Overview of 2024 tax deduction and points to note The special tax deduction is applied to the income tax and resident tax of the year 2024 （令和6年）. We’d like to overview it and pick up points to note. Japanese residents registered as of June 1st 2024 can receive a tax reduction for their incomes in… Read More »
You can designate oversea bank account of almost all countries to receive Japanese lump-sum pension refund To receive your lump-sum pension refund (Lump-sum Withdrawal Payments), you can designate any of your bank accounts in almost all countries: But you need to designate an account whose holder is, at least one of them, yourself. You cannot… Read More »
2024 tax reduction law passed In the end of March 2024, Japanese Diets passed the law to reduce year 2024’s income and resident tax. A review for the tax reduction of this year: Japanese residents registered as of June 1st 2024 will receive a tax reduction for their incomes in 2024. It will be 30,000JPY… Read More »
The amount of Kosei Nenkin’s lump-sum pension refund varies much compared with that of Kokumin Nenkin You can claim a lump-sum pension refund (Lump-sum Withdrawal Payments) if you clear the following conditions: You don’t have Japanese citizenship You contribute Japanese pensions for more than 6 months You are covered by Japanese pensions for less than… Read More »