Sa ikalawang bahagi ng series na ito, ating lubos na mauunawwan kung paano magkakaroon ng interest ang income tax in Japan para sa lubos na kapakinabangan ng mga tapat na taxpayers ng bansang ito.
Tax Rates
The rates of an income tax is based on the premise of a taxable income. Meanwhile, a taxable type of income is defined as the total earnings less the basic tax exemption for dependents and other types of deduction like insurance premiums, medical expenditures and various business expenditures of self-employed citizens.
Tax Earnings
The Japanese Tax System in general provides a taxpayer to earn about 380,000 yen, which is absolutely TAX-FREE. These are the actual deductions for your basic leaving expenses. Kung ikaw ay may-asawa na at may dependents, you are going to earn another 380,000 yen deduction for each dependent.
The Bucket-Free Characteristic of the Japanese Tax System
Ang bucket-free characteristic ng Japanese Tax System, ay nakapaloob sa ganitong cycle. Una sa lahat, ang iyong pinaghirapang pera ay napupunta tungo sa 0% tax-free bucket which has been created from your total tax deductions. After earning 380,000 yen for one year, your tax-free bucket will become full. Kapag nangyari ito, your money will automatically go to the next bucket. This is called the 5% tax bracket. Once a taxpayer pays well and the bucket becomes more abundant, you can earn an approximate of 1,950,000 yen.
Furthermore, if you are going to earn an income which is higher than 1,950,000, the said amount will magically fill the 10% income bucket. Hence, the same process will be continued until it earns a total of 18,000,000 yen again. After which, this will soon have the tax bracket of 40% which is the highest percentage in their comprehensive tax system.
Lubhang napakahalaga ng income tax sa bawat bansa mahirap man ito o mayaman. Ito ay nagbibigay ng kakayahan sa pamahalaan upang matugunan ang mga dumaraming economic at social necessities ng bansa. Kaya, nararapat lang na ito ay bayaran ng buong katapatan, anuman ang kasalukuyang kalagayan ng iyong bansa. Sana, ang bansang Pilipinas at iba pang Third World countries ay magkaroon din ng ganitong tax laws sa darating na panahon upang makabangon ang bansang ito sa sobrang paghihirap at mga mapapait na economic struggles.
See also Part 1 How Japanese Income Tax is Calculated
Image credit: www.taxcredits.net from Flickr
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