I accepted the land acquisition. Could you tell me about the tax?

When the business site is transferred to Yokohama City
If you cooperate with public works (expropriation projects), you may be able to receive preferential tax treatment under the Special Taxation Measures Law. If the assets to be transferred correspond to inventories (products), this preferential treatment is not available.
＊For more information on taxation, please contact your local tax office.
①Special exception for 50 million yen deduction
If Yokohama City transfers the assets within six months from the date of the first offer to purchase, etc., you can receive the "special deduction of 50 million yen" for the transferred income .
②Special provisions for deferred tax
If an alternative asset is required for compensation for the transferred assets, the equivalent of the acquisition price of the substitute asset may be subject to the “exception of taxation when acquiring alternative assets” (deferral of taxation) can be applied. You.

Responsible:
Construction Division
Phone: 045-671-3521
FAX: 045-663-8993