The Cabinet has approved the FY2015 tax reform.
Major international tax measures include the following.
• Introduction of special capital gains rules upon departure from Japan
• Individuals meeting certain conditions, including holding securities and similar assets with a market value of at least JPY100 million, will be taxed as if they disposed of those assets when moving abroad.
Taxation of unrealized gains and deemed transactions already exists in other areas, such as stock options, so my first impression is that the tax theory is not particularly unusual.
From a macroeconomic perspective, however, this seems to address a very narrow set of cases. I wonder how much revenue it will raise, while also thinking, “They are taxing even such niche situations,” and “More wealthy individuals may leave Japan by the end of June this year.”
An overview is available here.
http://www.mof.go.jp/tax_policy/tax_reform/outline/fy2015/27taikou_gaiyou.pdf
Details are available here (pages 16–20).
http://www.mof.go.jp/tax_policy/tax_reform/outline/fy2015/20150114taikou.pdf
This article provides general information based on legislation as of February 3, 2015. Please obtain individual advice before taking action.
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