Japan PM seeks detailed tax cut plan, eyes 40,000 yen per person

Prime Minister Fumio Kishida on Thursday asked senior ruling coalition lawmakers to work out the specifics of a tax cut plan that will go into an economic package to ease the burden on households hit by inflation. The government is considering a tax cut of 40,000 yen ($266) per person -- 30,000 yen for income tax and 10,000 yen for residence tax. Low-income households who are exempt from tax payments are expected to receive 70,000 yen in cash. Kishida's Cabinet is expected to formalize the economic package on Nov. 2, featuring subsidies to lower energy costs and other steps allowing the econom...