Japan Ruling Bloc, DPFP to Start Tax Talks Next Week

   Tokyo, Nov. 14 (Jiji Press)--Japan's ruling coalition and the opposition Democratic Party for the People agreed on Thursday to launch full-scale talks on tax reform, including a review of the 1.03-million-yen annual income threshold for income tax, next week.
   The agreement came after DPFP tax chief Motohisa Furukawa separately met with his counterparts from the ruling Liberal Democratic Party and its coalition partner, Komeito.
   The ruling bloc plans to draw up an annual tax reform package next month that will reflect the outcome of its talks with the DPFP.
   The DPFP calls for the threshold to be raised to 1.78 million yen. The government estimates that if the threshold is raised to that level, there would be a loss of about 7 trillion to 8 trillion yen in national and local tax revenue. The DPFP is also seeking to cut gasoline tax.

(2024/11/14-20:30)

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