Paul Hunter, secretary general of the Tokyo-based International Bankers Association which represents about 50 overseas financial institutions and has been lobbying against a rule by which the government subjects long-term foreign residents to inheritance tax of up to 55% on their worldwide assets — meaning heirs could be forced to give up their family homes or businesses even if they’ve never set foot in Japan.© Bloomberg
quote of the day
Japan doesn’t seem to want long-term residents anymore. Why would you do that at a time when you’re doing Tokyo as an international financial center?
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