A
Of the taxes on foreign currency deposits, interest income is subject to a separate withholding tax of 20.315% (national tax 15.315% and local tax 5%).
In addition, 0.315% of national taxes are attributed to the introduction of the special income tax for reconstruction.
Exchange gains are treated as miscellaneous income and are subject to comprehensive taxation when filing tax returns.
However, salaried workers with an annual income of 20 million yen or less are not required to file if their annual income other than salary income and retirement income, including exchange gains, is 200,000 yen or less.
Exchange losses can be deducted from other positive miscellaneous income. Losses cannot be offset against other income categories.
For more information, please consult a certified public accountant or tax accountant.