This is quite the illuminating thread. Regardless of how long I might live in Japan, I despise the idea of either country digging through my assets based in the other country. I don't see why my 401(k) account that I built as a US citizen working for a US company in the US should be any of Japan's business (or vice versa). I wonder about the potential for Japan to come up with a tax law that would hamstring my tax shelters in the US (like taxing my 401(k) earnings yearly, rather than at distribution). Hopefully the tax treaties prevent that sort of thing. It seems that having a good accountant and tax attorney is a must.
I fully agree that it's galling to be audited by a government that would stand no chance of surviving such an audit.
I fully agree that it's galling to be audited by a government that would stand no chance of surviving such an audit.
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