These are the taxes when you purchase properties in Japan. The explanation of taxes are bellow and the calculation of each tax will be written in other article.
Stamp tax
This tax is for affixing stamps to real estate sales contracts and transfer certificate documents. It is also required for building contracts, contracts with financial institutions for mortgage loans, and receipts. The stamp tax is determined according to the amount and content of the contract.
More details of stamp tax are in this page.
Registration License Tax
A tax paid to the government during the registration process. The tax amount is calculated by multiplying the assessed value of the land and/or building (Fixed asset tax assessed value) by the tax rate.
Acquisition tax
A tax that is imposed when you buy land or a building. The local government will send you a tax notice four to six months after purchase. The tax is a local tax and is paid to the prefectural government. It is also calculated by multiplying the assessed value of the land and/or building (Fixed asset tax assessed value) by the tax rate.
Consumption tax
It is not taxed on land, and there are exceptions to this rule, such as tax exemption for sales and purchases of residential property between individuals. It is usually included in the price offered by the real estate company.
If you have any questions or/and if you would like to have more details, feel free to contact us by contact form.
