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JapanProbe reports...
" Two Japanese sisters have been arrested for allegedly trying to evade paying a fortune in inheritance tax.
Tax officials say the sisters hid almost 6bn yen ($58m) in cardboard boxes and paper bags at their home in the city of Osaka.
They are accused of failing to declare most of the money they inherited from their wealthy father, who died almost four years ago.
The National Tax Agency say it is the biggest ever case of its kind in Japan.
Prosecutors say Hatsue Shimizu and Yoshiko Ishii inherited about 7.5bn yen ($73m) when their father, who owned a property and finance company, died in 2004. "
I can understand having tax deducted when the paycheck comes in but paying tax on money received from family sucks - I presume this is not a Japan only thing?
As for stashing money at home - while a lot of Japanese seem to keep a lot of cash indoors, I hardly have any and take out only what I need for the next few days from the ATM. You is be storing loads of cash at home?
Posted on 2008/03/13 12:30
Director/代表取締役
登録日: 2006/12/11 10:54
In Insanity mode v2.35
登録日: 2008/03/13 03:21
I hate tax that will be spent on useless cause...such as US spending our tax money for Iraq War...trillions of dollars....without war, US can spend for better cause such as education
I am NOT gonna start a flame war, but my good ol' USA spends more on pensions and garbage before they even get to defense.
http://www.usgovernmentspending.com/
And for everyone else, if u do the "unforgivable" crime of using your God-given freedom to become LEGALLY wealthy, and want to pass it to your children, you loose more than HALF of it because some busybody figures they have the right to control your life.
How are anime and figure companies going to survive if they are ever family owned? ........ Is there one family owned? >_<
CyberStudent
登録日: 2008/01/04 12:05
Hmmm... Thye should have just payed the money... Or left the country.... Or spent it all really really fast.... Or just gave it to me. TeeHee! ^^
Non-profit org. volunteering work addict
登録日: 2006/12/31 22:36
I surely don't think the latter would ever work. ^^;
Non-profit org. volunteering work addict
登録日: 2006/12/31 22:36
Their reaction is understandable, but they will lose even more than if they had to declare their inheritance...
How sad, between governments which are not ashamed to get money from a way or another and people trying to escape the law in the most ridiculous ways (not to mention their greedy attitude)...
Sometimes I am just happy I am not rich at all, so I don't face such issues.
mouse clicker
登録日: 2007/08/23 06:55
in the words of the philosopher notorious b.i.g. "the more money we come across, the more problems we see".
qingy in 25th Macross Frontier Fleet
Valkyrie Pilot
登録日: 2007/10/06 04:57
I'm similar to you Danny, I only take out what I have to for the few days ahead, the rest of the time is debit, or Mastercard
qingy in 25th Macross Frontier Fleet
Valkyrie Pilot
登録日: 2007/10/06 04:57
this also raises an interesting question, how did people find out they hid 6 billion yen?
Non-profit org. volunteering work addict
登録日: 2006/12/31 22:36
Easily, never underestimate government hounds (no offense intended)... They get back at you at one time or another.
"No escape... Nowhere to run, nowhere to hide... No escape!" (Group of ghosts from FF VI, Sabin/Mash's scenario)
Student
登録日: 2007/12/15 09:45
Ah- You played FF VI as well? 'Twas a great game. Had played it twice towards the end but have never finished it up before ^^;
Non-profit org. volunteering work addict
登録日: 2006/12/31 22:36
FF VI is actually my favorite FF ever... But since it is off-topic, I will not elaborate on that.
Slayer of Undead minions.
登録日: 2007/09/02 14:18
Paper trails are a wonderful thing. I'm sure somewhere there was a listing of the fathers assets and when he died it just took someone 4 years to actually look over the paper work and realize there was 6 billion yen missing and who the benefactors of that money were.
FP/Student
登録日: 2008/02/12 19:02
Ah..death and taxes, have to be the most depressing moments in life.
Me store most money in banks for paying off credit card bills, figures, cels and stuff don't come cheap afterall.
Engineering Student
登録日: 2007/10/22 23:58
Lol just imagine if their house caught on fire.
Human being. Really, I'm not joking!
登録日: 2007/10/22 01:58
LOL
If that was my house, I'd kill myself...
Polytechnic Student, Freshly Entered.
登録日: 2007/01/25 21:08
I wonder if they'd thought of depsiting it in the bank a bit at a time. if they ask, you could always say it's the weekly lottery...
Web Design & Development
登録日: 2007/09/11 09:31
If I had inherited 6 billion yen I think my house would look a little nicer than that.
Pianist, Writer, Teacher
登録日: 2008/01/14 17:32
And I think I would move out of the country that I have defrauded.
In Insanity mode v2.35
登録日: 2008/03/13 03:21
Tax is everywhere to take you money....wage tax, property tax, sales tax, etc....mine tax is 6%
Kyle in Seattle, Washington
Student
登録日: 2007/10/08 05:08
Ha, I read about this on the BBC. I guess it shows how far people would go to not pay taxes...
Graphic Design
登録日: 2008/03/04 06:26
If you can pay money by using figures and gunpla then yes I be storing a lot of moneys at home. :P
Student
登録日: 2008/02/04 05:36
here in the US, we have something called a death tax, meaning they tax you for dieing. Then they tax your relatives if you leave them any inheritance. It is quite ridiculous.
Non-profit org. volunteering work addict
登録日: 2006/12/31 22:36
Don't you mean succession rights tax?
Logis Of The Adeptus Mechanicus
登録日: 2008/03/12 14:29
Non-profit org. volunteering work addict
登録日: 2006/12/31 22:36
Okay, was thinking direct translation of the French one.
Relatively same concept, different term.
"Even the dead have no rest"
We have that here in england too. Always some way to drag money out of people.
Leisure Consultant, Writer, Webmaster
登録日: 2008/01/29 07:16
Damn, that's messed up. I should have spread the money out a little bit. Maybe even rent some apartments and stash the money there too. How did people find out? I bet some rat dimed on them.....Some Japanese people are real nosy.
Student
登録日: 2007/09/01 17:32
Read it in today's papers, the gov suspected that something was amissed when the sisters only declared 1.6 billion yen inherited when their father died.
Test Engineer
登録日: 2007/12/22 21:22
I dont keep lotsa monies at home/in wallet. Unit Trust/Bonds, you'll get lotsa grown monies
part time illustrationist, doll clothing seamstress
登録日: 2007/01/09 14:21
it's dangerous to have too much cash laying around at home o_o; not that it makes a lot of interest in the banks, but the latter is still safer? (Unless it is common that banks can go bankrupt :P) I even prefer not to bring too much cash on myself when I go out, unless I need to treat someone LOL
宅男 Otaku/ 工程师 Engineer
登録日: 2007/06/11 14:45
i is be store all my money in the bank who gives crappy interest rates. >.<
computer business Infomation system
登録日: 2007/11/30 13:32
They could've putted some money in some safe deposit boxes or buried some in the backyard or something.
mouse clicker
登録日: 2007/08/23 06:55
don't have that much money to store around, but what i have will probably go into time deposit. what i need is either withdrawn or charged.
大学生/University Student
登録日: 2007/12/04 23:04
Me is not storing money at home.. more like me can not, since me stays in a twin-sharing room.
Oh btw, if me remember correctly from reading a .pdf file from www.mof.go.jp the inheritance tax can amount up to 70%....
大学生/University Student
登録日: 2007/12/04 23:04
Reason being for redistribution of wealth..
Study
登録日: 2007/11/03 03:38
You have to pay inherence tax here aswell, quite high i think actually.
Henry in Makati, Philippines
anime/cosplay events organizer
登録日: 2006/12/25 19:05
i don't have huge amounts of cash at my home and i only took a small amount from my ATM if i'm short of cash ^^;;;
"Thou shall not steal, The government hates competition"
Secondary Student~
登録日: 2007/11/06 14:07
I stuff my hard-save figure money in my biscuit tin
Student/Someting/Pharm Tech
登録日: 2007/11/14 01:57
This what happens when someone does not have the money put into a trust fund or give it as a gift to have lower tax rates. Inheritance should be given only in a form of non taxable items to give to family members and friends. There are ways to bypass this tax, but one has to be smart to do it. The father should put it in a trust fund or something similar to bypass this. People need to have professionals find all of the loopholes so you can have less money "given" to the government. That's how the wealthy do it.
dannychoo.com no aidokusha
登録日: 2007/12/25 22:50
i dont have load of money..so even if i wan to store em at home i cant.
Online Shop
登録日: 2008/01/17 11:23
I hardly carry or stash big cash at home. Only take out what's needed time to time.
i don't feel safe keeping money at home. everything is in the bank.
me is only keeping loose change in china pig bank
In Insanity mode v2.35
登録日: 2008/03/13 03:21
Sooo...how Bill Gates store all his money....
National Servicemen
登録日: 2008/01/19 21:22
set up a foundation... then give away a little bit to show the world how generous you are...
not too mention all the tax breaks you get for being philanthropic...
NEET
登録日: 2008/01/19 23:09
One would think that a person that is able to earn so much money should be able to figure out how to avoid taxes in so called "tax paradises".
IT monkey/consultant
登録日: 2006/12/29 03:02
We have inheritance tax in the US, as well.
I personally think it's vile. How many times must the same income be taxed?
IT/System Admin
登録日: 2008/01/28 22:21
Yes, and I think it is 30-40% or something really evil like that.
Polytechnic Student, Freshly Entered.
登録日: 2007/01/25 21:08
The hell?!? It's like being taxed simply for existing!
Polytechnic Student, Freshly Entered.
登録日: 2007/01/25 21:08
The hell?!? It's like being taxed simply for existing!
Techie
登録日: 2007/09/27 04:59
I is not storing loads of cash at home cos I is not having loads of cash at all
オタク by moonlight, Graphic Designer by daylight
登録日: 2007/11/08 03:25
Tax sux big time in Canada. I paid 1/5 my hard earning money to the blood sucking government every month. =(
ソフトウェアエンジニア
登録日: 2007/12/30 07:14
gads, why would you ever store that much money at home? what if there was a fire? it was stolen? even if you don't trust a bank... you still should mitigate your risk somehow!
Public Relations / Marketing Manager
登録日: 2008/01/24 06:19
I used to horde my cash under my mattress when I was younger. Nowadays, the most I ever have in my wallet is $100 so I won't need to go to the bank so often. But I generally "hide" my money in my bank account.
Computer Engineer
登録日: 2007/04/03 04:05
Since Chip and Pin came around in the UK i hardly ever have money on me, usually just have enough for transport for the week. On the other hand, when i was in the cash society that is Japan, i accumulated loads of change, more than i knew what to do with, think i just left it in the hotel room...
Civil Engineer
登録日: 2008/01/02 11:32
Mac this is how many times the same income is taxed in the US (or substitute your country's name here).
Your company is taxed, before they give it to you, and then they have to match on certain taxes that were taken out of you pay.
Your income is taxed.
If you manage to save any, the interest is taxed.
If you put any away in stocks the dividend is taxed.
If you save any for retirement it is taxed when it's withdrawn.
And if you happen to have any left over when you die. Your relatives will get hit from 30% to 60% in 'Death Taxes".
You may wonder where all of this goes?
It goes to entitlement programs. The smallest portion of the federal budget is defense spending.
Computer repairs
登録日: 2007/09/16 10:50
I avoid keeping money on me. I have the habit of spending it. Credit card forever!
Student
登録日: 2008/03/14 14:31
Haha this could be avoided if the father just transfer the money to his daughter BEFORE he died. I don't know how the father died, but let's say it's natural death. If he knew he's going to die, why not just give them the money before WITHOUT paying the inherit tax? That's what my grandmother did, she was very old and we knew she probably won't live for long, so she did the money transfer before she died. That way we avoided paying tax LEGALLY , and have more money in our pockets.
happily unemployee
登録日: 2007/12/15 17:22
That's suck. We inherit money/objects from parent but goverment asking for a tax...?! In my country, muslim law are not allowed people or whoever they are regardless rank or position, to taking over some or all inheritance treasure for whatever reason. Inheritance money/objects will go to the respected people like: their children. They don't have any right to do that even they using goverment rule or policy. That's why there's no tax for inherit money or other object except for object which does had annual tax duty like cars, house etc,but no tax for recieving inheritance money/object. But... may be this time the rule is also changed...hm....
security/student
登録日: 2007/04/17 14:41
this is why they have bloodsucking lawyers... so you can HIDE your money.. just like the rest of the rich folk.. you think sam walton's kids (wal-mart) had to pay inheritance tax on there billions... naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
Hikikomori
登録日: 2007/08/22 05:18
That is sad... the government trying to get their dirty hands on the inheritance money, I meant. But I guess in Brazil it's much worse...
I'm really sorry, but I can't see how is it right for the government to get their hands on some dead guy's money.
Unless they are paying for the funeral or something. And even so, it wouldn't be a percentage.
I mean, taxes for the living I can understand.
Anyways, how much money the government would be stealing from that amount?
