LDP eyes cellphone, pachinko prize taxes

Aug 11, 2014

LDP eyes cellphone, pachinko prize taxes

Some members of the ruling Liberal Democratic Party are considering seeking taxes on mobile phone owners and the pachinko industry to cover a chronic shortage of government revenue. With the balance of government debts at a record ¥1.04 quadrillion at the end of June, ...

Aug 5, 2014

Japan to end retaliatory tax on U.S. over Byrd Amendment

The Finance Ministry said Tuesday it will end a retaliatory tax imposed on U.S. products in response to that country’s Byrd Amendment. Under the amendment, the United States distributes revenue derived from antidumping duties collected from foreign companies to domestic producers. The retaliatory tax ...

Jun 28, 2014

Japanese spending might recover in September: World Bank chief

The head of the World Bank expects Japanese consumer spending to start recovering from the drop caused by the first stage of the consumption tax hike sometime around September, and voiced support for an investment bank for Asia as proposed by China. “What we’re ...

Pachinko parlors face taxing times

May 13, 2014

Pachinko parlors face taxing times

by Farah Master and Nathan Layne

Moves toward legalizing casinos in Japan have reignited a debate over the legal status of pachinko, with a potential new tax mooted for a $200 billion gaming industry that has existed for decades on the fringes of the law. Pachinko, a slot-cum-pinball form of ...

Mar 9, 2014

Politicians eye tax hike on capital gains

The government and the ruling parties are considering heavier taxes on stock dividends and capital gains to help cover a revenue drop from a possible cut in the effective corporate tax rate, Jiji Press has learned. The hike is expected to be presented to ...

Feb 20, 2014

New tax rules to hit holders of overseas assets

by Tomoko Otake

Individuals with overseas assets worth more than ¥50 million must report them to the nation’s tax authorities or face tough penalties, according to new government regulations introduced ahead of this year’s tax return filing. Taxpayers who fail to report these assets face penalties of ...