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The hometown tax (ふるさと納税, furusato nōzei) is a system in Japan that allows taxpayers who live in urban areas to contribute to rural areas in return for a tax credit from income tax and residence tax. Its creation was announced by the Minister for Internal Affairs and Communications Yoshihide Suga under Prime Minister Shinzo Abe in 2007. In July 2014, Abe's then chief cabinet secretary Suga announced that they had established the preparatory office for the “local headquarters”.
The local headquarters was established to help increase the number of children, especially in rural areas, and to promote the development of self-governing bodies. Promoting “hometown tax” is included in these activities.
History
In the spring of 2008 the "Hometown tax" law was legislated in Japan.
Function
Taxpayers who contribute more than 2,000 yen can have their income tax and residence tax reduced. The amount deducted is the taxpayer's entire contribution minus 2,000 yen and set amount. To receive the subtraction, the taxpayer files a final tax return. The reasoning is that many young people move to urban areas, leaving fewer people to pay rural taxes. Taxpayers choose the receiving jurisdiction.
Evaluations
Cities that offered "gifts" of local products received up to 60 million yen.
The use of gifts has been criticized as distorting the results: for example, an effective donation of just 2,000 yen can net the donor 60 kg of rice, equivalent to one adult's annual consumption. Anything above the 2,000 yen is merely a redirection of the donor's tax from the central government to a regional government.
Cities that have no specialty products or have no means to announce their activity received fewer contributions.
Yamagata prefecture
In Yamagata Prefecture, contributions have been increasing. For example, Obanazawa city and Mogami town received several million yen in 2013. They use gifts and the Internet to collect contributions. For example, Obanazawa, Yamagata offered gifts of “Obanazawa watermelon” and “sirloin steak of Obanazawa-gyū”.
References
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HOMETOWN on Behance
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“Hometown Tax Syndrome” ～A Critical Situation of Rights and Duties ...
“Hometown Tax Syndrome” ～A Critical Situation of Rights and Duties ...
hometown tax
Daftar Isi
Hometown tax - Wikipedia
The hometown tax (ふるさと納税, furusato nōzei) is a system in Japan that allows taxpayers who live in urban areas to contribute to rural areas in return for a tax credit from income tax and residence tax. Its creation was announced by the Minister for Internal Affairs and Communications Yoshihide Suga under Prime Minister Shinzo Abe in 2007. [1] In July 2014, Abe's then chief …
Welcome | Hometown Tax & Accounting Services Inc.
Hometown Tax & Accounting Services Inc. The Right Balance For You. phone (770) 382-1295 fax (770) 382-4108 . Home; Profile; Services; Resources . Financial Calculators; Record Retention Guide; IRS Publications; IRS Forms; Tax Appointment Checklist; Tax Rates; Tax Due Dates; Subscribe to Tax Calendar; IRS Withholding Calculator;
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At Hometown Tax & Accounting, our clients are not just clients … they are family. learn more about Hometown. Passionate – Dedicated – Professional. Hometown Tax and Accounting. We believe in building deep, meaningful connections with each person we serve. By taking the time to truly understand your unique needs and aspirations, we foster ...
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Taxes done your way, by a home town face, providing home town service! Contactless tax prep through secure, electronic client portals! Exchange documents & messages, view & sign your returns, and pay your preparation fees all from the comfort of your home. Please call the office at (812) 838-8411 to get your portal setup today!
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With many years in the ever evolving tax preparation and accounting world, we are quite equipped to help you reach your financial goals and evaluate the various financial decisions that you face. My Hometown Tax can prepare tax returns for all types of federal and state filings.
Furusato Nozei: An Introduction to Japan’s Hometown Tax Program
Nov 11, 2021 · The hometown tax program, or furusato nozei in Japanese, was first announced by former PM Yoshihide Suga in 2007 (when he held the post of Minister of Internal Affairs and Communications) as a way to fight the deterioration of rural Japan. The program encourages city dwellers to donate to independent producers around the country in exchange for ...
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This same tax company is what has grown into My Hometown Tax as you see it today. In the past nine years, my love for tax law has continued to grow. I take great pleasure in being able to sit with my clients, and not only file their taxes, but to help them feel comfortable through knowledge about their personal tax situations.
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Hometown Tax & Accounting Service was not only polite but very quick too! This is the first year I’ve had to file married so I needed a company I could trust. Then I heard about them, I would highly recommend them to anyone looking to get their taxes done. They had all the answers to any of my questions and were very professional. Thank you.
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Hometown Tax, Joplin, Missouri. 190 likes · 1 was here. Hometown Tax is locally owned and operated in the Joplin area.