Jan 17, 2016

Hometown donations surge, especially after natural disasters

More people are remitting cash to municipalities where they do not live, such as their childhood homes in the countryside, using the tax-deductible furusato nozei (hometown donation) program. Spikes are seen whenever a natural disaster strikes, and the surge in giving has led some ...

Dec 29, 2015

Japan to tax profits on bond sales from Jan. 1

From Jan. 1, Japan will tax profits on bond sales and allow investors to cut their tax payments by offsetting gains and losses in bond trading with those in equity transactions. The bond sales tax is set at 20.315 percent, the same as the ...

Nov 12, 2015

LDP group to call for taxing internal reserves at firms

A group of lawmakers from the ruling Liberal Democratic Party is set to urge the government and the party’s tax panel to consider taxing internal reserves at companies, it was learned Thursday. The proposal will be aimed at prompting companies to further boost capital ...

Oct 17, 2015

Japan mulls paperless receipts for duty-free after refund gripes

The Japan Tourism Agency is considering a paperless tax refund system for foreign visitors, informed sources said, following a surge in the number of tourists. Foreigners can obtain tax refunds at the shops where they purchase goods but are required to show customs officers ...

Oct 9, 2015

Tax cuts may be axed in bid to spur investment

The government is considering ending tax cuts to reduce burdens for corporate investment in order to enhance productivity at the end of March 2017, sources close to the matter said. With the change, the government expects an increase of around ¥300 billion to ¥500 ...

Sep 26, 2015

Court freezes Neymar's assets

A Brazilian court has frozen assets of Barcelona star Neymar, his family and related businesses valued at 188.8 million Brazilian reals ($48 million). The Sao Paulo federal court said Friday that the 23-year-old is alleged to have evaded 63 million reals in Brazil taxes ...