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Are there taxes on home country savings? 2023/12/6 14:43
I'm moving to japan this month and starting a job next january. I want to get a portion of my savings to japan. I'm going to carry some in under 10k when I come here. Then want to transfer another 10k once I come here. So I can get a car( I know PT is good. But I like to have a personal vehicle as my company covers all transportation costs) , pay for living expenses etc. I'm worried if I get taxed on them before them being added to my jp account even though they're savings and not income.

I can't afford to lose any money right now.

Can I just explain the bank where the money coming from and stuff so they know it's sitting savings from my home country? I have them in USD to it will go a long way with the current exchange rate.



by Obey8F (guest)  

Re: Are there taxes on home country savings? 2023/12/6 17:43
there is no limitation for money transfer. but, they will inform your money transfer to tax office, when the amount exceeds more than 1000000 yen. also, you need to show your ID for tax purpose, so called as hmy number", when you receive money in your account.

if you bring cash or something like traveler's check, more than 1000000 yen, you need to declare it at airport when you enter Japan.

about car commuting, they don't pay all expense for car commuting. probably, it may be the money only for gas. generally, they pay the money for commuting when you use public transportation in full amount.
by ken (guest) rate this post as useful

Re: Are there taxes on home country savings? 2023/12/6 17:48
Does that mean if I transfer 2 million at once or in separate occasions, I will get taxed? Ot they just keep the records of all the transfers?

As for the car the gas, parking fees are covered. Everything else is done by me as it will be my own vehicle
by Luftha rate this post as useful

Re: Are there taxes on home country savings? 2023/12/6 21:03
No. no charge of taxation. the bank must inform international money transfers, if they are more than 1000000 yen. if tax office ask you, you need to answer it. in that sense, if you bring your money as cash when you coming, you should declare it to make everything legal, because you will probably deposit your cash to your account.

check the rule of international driving license. it is important and complicated, because you will be a resident. (visitor's rule will not apply to you.)

in many cases, companies pay commuting fees, because those are income tax-exempted.
there is the maximum amount for tax-exemption. if your company pays more than that amount, the overpaid amount is counted as your salary, taxable.
by ken (guest) rate this post as useful

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