Japan gov't sets FY 2022 tax plan focused on incentives to hike wages

Politics Economy

Japan's ruling coalition approved Friday a tax plan for fiscal 2022 focused on encouraging businesses to raise wages through tax incentives, aiming to boost household incomes in a country stuck in low inflation and help spur consumption dampened by the coronavirus pandemic. Large corporations that raise wages by 3 percent or more and small businesses that hike them by at least 1.5 percent will be eligible for tax reductions, as the government of Prime Minister Fumio Kishida tries to deliver on his election promise of a redistribution of the wealth to support the middle class. Meanwhile, some k...

Kyodo News

Kyodo News