I recently got a refund of a previously paid fine in my home country as it has been retro-actively canceled this year.
I transferred some of this money to my Japanese bank through Wise.
I am not sure if I need to report it as an income and pay tax on it, it is not money I earned due to services, sales, dividends, but it is money I somehow received; I am not 100% how to figure out if this is income or not.
I do not have any other, actual foreign income whatsoever so I am dealing with this as an isolated case. I have been living less than five years in JP.
Would anybody be able to point me in the right direction?
Remittance of refunded (foreign) fine: Taxable?
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Re: Remittance of refunded (foreign) fine: Taxable?
A refund of your money sounds like it would just be your money: treated like savings.
You don't have to pay tax on moving your own money to Japan unless you also had income abroad during the same year.
You don't have to pay tax on moving your own money to Japan unless you also had income abroad during the same year.
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Re: Remittance of refunded (foreign) fine: Taxable?
Thank you Ben,
I thought so too, so I guess if the tax office comes asking I will just show them the refund decision, should be OK!
I thought so too, so I guess if the tax office comes asking I will just show them the refund decision, should be OK!