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 »
Japanese employers submit employees’ tax returns on their behalf (but there are exceptions) All residents in Japan who get incomes here are required to submit their tax returns to their local tax office year by year. In Japan tax returns are called “Kakutei Shinkoku [確定申告]” As you know, you report your annual incomes and exemptions… Read More »
List: Japanese tax years whose refunds you can claim (in year 2024) You can claim income tax refunds for salaries you had received in Japan for past 5 years. This is the list of years whose tax refunds Japanese tax office accepts: Year Tax refunds are accepted Gengonen (元号年) 2024 from 2019 to 2023 平成31年=令和元年,… Read More »
2025’s pension systems reforms Every 5 years Japanese government reforms its pension systems in accordance with developments of its society and economy. The next reforms will come in year 2025. Ministry of Health, Labor and Welfare (厚生労働省) has already submitted its own 2025 reforms plan. It will be discussed at Japanese Diets (国会) throughout year… Read More »
If you contribute a pension after April 2021 you will acquire max. 5 year’s payback From April 2021 the maximum year of Japanese pension refund (Lump-sum Withdrawal Payments) has got longer, from 3 years to 5 years. If you contribute one of Japanese pensions (Kokumin Nenkin / Kosei Nenkin / Kyosai Kumiai) (*) for more… Read More »
You need to claim your pension refund within 2 years after losing Japanese address Non-Japanese persons are permitted to claim their pension refunds (Lump-sum Withdrawal Payments) within 2 years after “you do not have an address in Japan”. In Japanese resident registration system all residents who are going to move out of Japan shall submit… Read More »