Gist of FY 2022 tax reform package compiled by Japan's ruling bloc

Politics Economy

The following is the gist of a tax reform package for fiscal 2022, drawn up Friday by Prime Minister Fumio Kishida's Liberal Democratic Party and its junior coalition partner Komeito. The package: -- will increase maximum tax deduction rates to 30 percent for large firms raising wages and 40 percent for smaller firms. -- will lower the amount of income tax cut for home buyers from 1 percent to 0.7 percent of outstanding housing loan balance. -- will beef up taxation on globally operating major firms in line with a multinational deal on international tax reform. -- does not include a review of ...

Kyodo News

Kyodo News