Japan Should Secure Funds for Income Tax Threshold Hike: IMF
Tokyo, Feb. 7 (Jiji Press)--The International Monetary Fund said Friday that Japan should secure funds for a proposal to hike the income tax threshold through increased revenue or spending cuts.
In a statement following its annual review of the Japanese economy, the IMF said that the planned personal income tax system reforms "would need to be financed by additional revenues or savings elsewhere in the budget."
"There is a significant risk that the deficit will widen further, given the political demands on the minority government," it warned.
Japan is mulling raising the threshold from 1.03 million yen per year.
The review is part of regular consultations covering IMF member countries, stipulated in Article 4 of the international body's Articles of Agreement.
(2025/02/07-13:00)
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