English Expressions about Taxes Part 23

Stock prices have fallen sharply over the past few days, but I know that some readers are looking forward to the next week and beyond.

Recently, it has become known that there are two types of accounts: one in which the sale of stocks of listed companies is taxed, and the other, like NISA, in which no tax is imposed with respect to the purchase of a certain amount of stocks.

In this article, we will introduce taxation on the sale of stocks.

If a resident of Tokyo sells shares through a taxable account,

Metropolitan inhabitant tax is imposed on income from the transfer of listed shares, etc. (profit after totaling annual trading gains and losses) in an account in which tax withholding is elected, as well as national income tax and special income tax for recovery.

Metropolitan inhabitant tax on capital gains, etc. from listed shares, etc., together with income tax and special income tax for reconstruction, which are national taxes, are imposed on such capital gains (income after aggregating yearly profits and losses in trading) remitted to the withholding selection account.

Here, let's review the terms related to taxation, which we have introduced before.

National taxes

Income tax

Special income tax for reconstruction

Metropolitan inhabitant tax

We will introduce the breakdown of taxation in the next article, so please look forward to it!