Japan Deemed Inheritance Tax on Pensions/Annuities
Re: Japan Deemed Inheritance Tax on Pensions/Annuities
@retirejapan clean up needed in aisle 5
Re: Japan Deemed Inheritance Tax on Pensions/Annuities
Follow up question on this issue:
Let's assume Japanese wife pays the tax on the "deemed inheritance" of say a private pension in which she is named as the beneficiary of the foreign husband, who dies before she does. Then she gets a certain amount every month or year from the pension until she dies. Is that monthly or annual amount then taxed again as income? It seems it should not be, since she has inherited it as a de facto lump sum on which she already paid tax, the "deemed inheritance tax."
I also assume that if she pays the tax and dies the next day, and gets nothing from the pension, the GOJ would not give back the tax it levied for an additional life expectancy of 20 years that never came to be....
Let's assume Japanese wife pays the tax on the "deemed inheritance" of say a private pension in which she is named as the beneficiary of the foreign husband, who dies before she does. Then she gets a certain amount every month or year from the pension until she dies. Is that monthly or annual amount then taxed again as income? It seems it should not be, since she has inherited it as a de facto lump sum on which she already paid tax, the "deemed inheritance tax."
I also assume that if she pays the tax and dies the next day, and gets nothing from the pension, the GOJ would not give back the tax it levied for an additional life expectancy of 20 years that never came to be....