real estate

The Tokyo Metropolitan Government (TMG) will enter talks with the Ministry of Internal Affairs and Communications (MIC) for a review of its procedures for assessing buildings to determine fixed assets tax. It will look into changing the current method to determine the costs of assets into a simpler method in order to give business owners a quicker insight into their tax liabilities. The aim is that MIC will change the evaluation standards, and introduce the simpler method nation-wide from 2020.