Individual Residential Tax in Japan
1. What Is the Individual Residential Tax There would not be a residential tax in the US and the UK. Since the Council tax in the UK imposes a citizen based on the residence, the council tax is similar to Japanese real estate tax translated into fixed asset tax in official documents issued by local governments. Residential tax is sometimes called residence tax and translated into inhabitant tax officially in Japan. Here I use residential tax to explain it. 2. Calculation of the Individual Residential Tax Japanese individual residential tax consists of two components. One is calculated by individual taxable income, and the other one is a fixed amount of[…]