Tokyo Pushes Back on ‘Bizarre' Death Tax That Deters Expats
- Governor Koike is seeking to make Tokyo a major financial hub
- Foreigners ‘can’t die in this country’: Schroders Japan head
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Considering a work stint in Japan? You’d better make it short, and you’d better stay alive.
That’s because the government subjects long-term foreign residents to inheritance tax of up to 55 percent on their worldwide assets -- meaning heirs could be forced to give up their family homes or businesses, even if they’ve never set foot in Japan.