The tax panels of the ruling parties have decided to skip a tax hike for capital gains and dividends in reforms for fiscal 2019, sources have said.

Currently, capital gains and dividends are subject to a 20 percent tax, consisting of a 15 percent income tax and a 5 percent residential tax. The Finance Ministry hopes to raise the total tax rate to 25 percent in a bid to increase tax revenue by some ¥250 billion.

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