Question #195
Selling property and tax
My Japanese wife has a small piece of land in the Japanese country side surrounded by famland. It contains some ancestral graves. She would like to sell the land but there were not takers. Question 1: Could she donate the land the the local Buddhist monastery - if so how can it be done and would it incur any taxation issues? 2. Could she sell the land at a very low nominal price to the local farmers? What are the tax implications of that? Thanks
Category: Real Properties
2021-07-08 19:19
Answer #1
2021-07-14 18:21
1. It is possible to donate the land to a local temple. However, even if it is a donation, the temple's approval is required. Suppose the temple is a religious corporation (宗教法人, religious corporations operate most temp...
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Ryosuke Kimura
Attorney-at-law & Tax Accountant