【超重要】資産5,000万円を超えると税務署に目を付けられる！？資産が一定数を超えると税務署のチェックが入るヤバい制度を教えます！

Summary

This video discusses the legal obligations of Japanese residents regarding the declaration of their assets, especially for the wealthy. It explains the concept of the 'Asset and Liability Report' and the 'Overseas Asset Report,' which require individuals with assets exceeding certain thresholds to report their holdings to the government. The video also highlights the rise in overseas relocation among affluent individuals who seek to avoid these reporting requirements. The importance of understanding tax regulations and wealth management strategies is emphasized, particularly for those considering moving abroad or investing in international real estate.

Takeaways

• 😀 Wealthy individuals in Japan are required to report their assets under two key legal systems: the Asset and Liabilities Report (財産債務長所) and the Foreign Assets Report (国外財産長所).
• 😀 A significant change in the law has introduced new criteria for asset reporting, now requiring individuals with total assets exceeding 10 billion yen to report, regardless of income.
• 😀 The goal of these laws is to prevent tax evasion and ensure the fair taxation of the wealthy by monitoring their global asset movements.
• 😀 High-net-worth individuals with overseas assets (e.g., real estate or bank accounts) exceeding 50 million yen are required to submit a Foreign Assets Report.
• 😀 Not complying with these reporting requirements can lead to serious penalties, including prison time for providing false information or failing to submit reports on time.
• 😀 Moving overseas and becoming a non-resident of Japan is the only legal way to avoid the asset reporting obligations in Japan.
• 😀 The Japanese government tracks foreign assets to prevent the movement of wealth outside Japan to evade taxes, using systems like the CRS (Common Reporting Standard).
• 😀 Many wealthy individuals are now choosing to move abroad to avoid reporting their assets to Japan's tax authorities, especially as asset transparency increases.
• 😀 Legal tax avoidance strategies like using trusts or corporations are available but carry significant risks of detection and criminal charges if used improperly.
• 😀 The implementation of CRS and other international agreements helps global tax authorities exchange information, making it harder to hide assets overseas.
• 😀 There is ongoing discussion about lowering the threshold for asset reporting from 10 billion yen to 5 billion yen, which would increase the number of individuals affected by these laws.

Q & A

What is the 財産債務長所制度 (Asset and Liability Declaration System)?

The 財産債務長所制度 is a legal requirement in Japan that mandates individuals with substantial assets or liabilities to report these to the government, especially those with assets over a certain threshold, such as 10 billion yen or more.

How has the reporting threshold for the 財産債務長所制度 changed in recent years?

The reporting threshold for this system has become stricter. Previously, only individuals with an income of 2 million yen and total assets of 3 billion yen were required to report. Now, those with total assets exceeding 10 billion yen must report, regardless of their income level.

What are the penalties for not complying with the 財産債務長所制度?

Failure to comply with the 財産債務長所制度 can result in legal consequences, including fines or imprisonment, depending on the severity of the violation.

What is the purpose behind the introduction of the 財産債務長所制度 and other asset declaration laws?

The primary purpose of these laws is to prevent tax evasion and ensure the fair taxation of wealthy individuals by monitoring their asset movements and preventing them from hiding wealth abroad.

What is the 国外財産長所 (Foreign Asset Declaration) requirement?

The 国外財産長所 requires Japanese residents with foreign assets worth over 50 million yen to report these assets to the government, including real estate or bank accounts held overseas.

Why did Japan introduce the 国外財産長所 requirement?

This requirement was introduced to prevent wealthy individuals from hiding assets abroad and to ensure that the government could track and tax these foreign holdings, reducing opportunities for asset concealment.

What is the legal significance of CRS (Common Reporting Standard) in asset reporting?

The CRS is an international framework for information exchange that helps tax authorities in different countries share information on financial assets held abroad. While it aids in tracking wealth, certain loopholes still exist, and additional reporting requirements like 国外財産長所 are still enforced.

What are the penalties for underreporting or failing to report foreign assets?

Penalties for non-compliance with the foreign asset declaration requirements include up to one year of imprisonment and significant fines for falsifying or failing to submit the necessary information.

What strategies can wealthy individuals use to avoid the reporting requirements?

The only legal way to avoid the reporting requirements is by becoming a non-resident of Japan. Relocating abroad and officially ceasing to be a resident allows individuals to escape these reporting obligations.

Why are wealthy individuals increasingly moving abroad to avoid these taxes and reporting requirements?

Wealthy individuals are moving abroad primarily to avoid the mandatory reporting of their assets to the Japanese government, as many find it undesirable to disclose their wealth, especially when it could lead to higher taxes or scrutiny.