Japan LDP Eyes Expanding Tax Benefit for Wage Hikes, Nikkei Says

Japan’s ruling Liberal Democratic Party is looking to expand tax benefits to companies raising base wages, Nikkei reports, citing the party’s tax panel chief Yoichi Miyazawa.

• Plans to expand the 15% tax exemption rate currently in place, but didn’t elaborate further
• Miyazawa says he wants to create an environment where base wages will rise 1% annually
• Plans to reflect changes in fiscal 2022 tax revisions
• On raising capital gains taxes, he says he plans to designate the issue as a “matter of consideration” in tax revision outline the party plans to compile by end of this year; notes he ...