• Kyodo

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The administration and ruling bloc are in the final stages of talks to raise the income tax in 2017 on corporate employees who make more than ¥10 million a year, sources said Tuesday.

The proposal comes as Prime Minister Shinzo Abe’s administration, the Liberal Democratic Party and its coalition partner, New Komeito, have already decided to raise the tax burden in 2016 on company workers earning more than ¥12 million per year.

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