LDP, DPFP to Continue Talks on Income Tax Threshold

Tokyo, Dec. 12 (Jiji Press)--Japan's ruling Liberal Democratic Party and the opposition Democratic Party for the People agreed Friday to continue discussions on raising the minimum taxable annual income level from the current 1.6 million yen to 1.78 million yen.

The agreement was struck at a meeting between LDP tax panel chief Itsunori Onodera and his DPFP counterpart, Motohisa Furukawa.

The LDP is considering raising the threshold to 1.68 million yen in 2026. DPFP leader Yuichiro Tamaki has rejected the idea, saying that it is not enough.

"We still have to continue discussions on the size of the hike," Furukawa told reporters after the meeting.

Onodera stated, "We are in agreement that we will make efforts to help people increase take-home pay without needing to curb working hours."

[Copyright The Jiji Press, Ltd.]