▼Taxation (Extension of lifetime gifts taxation period)

Gift assets to be added to the taxable value for inheritance tax were previously considered to be assets acquired by gift under calendar year taxation from the deceased within three years prior to the start of inheritance. However, last year's tax reform extended this period from three years to seven years, to be rolled out gradually.

This reform applies to assets acquired by gift on or after January 1, 2024.

The period will be gradually extended from inheritances beginning on or after January 2, 2027, and will finally be fixed at seven years from inheritances beginning on or after January 1, 2031.

Note that gifts received during the extended four-year period up to a total value of 1 million yen will not be added to the inheritance property.