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May 03, 2024
 

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TAXES

Japan Times
JAPAN
Dec 15, 2022
Same levy, different name: Reconstruction tax to be shifted to defense spending
The ruling Liberal Democratic Party's latest plan to fund a defense budget hike is to create a new defense tax.
Japan Times
COMMENTARY / Japan
Dec 15, 2022
The fight to build up Japan’s military is just beginning
The famously pacifist nation's plans to double defense spending are both welcome and overdue. Now Japan needs to find a way to pay for them.
Japan Times
BUSINESS
Dec 15, 2022
Japan plans higher taxes, but only on small group earning over ¥3 billion
The idea of imposing higher taxes on the wealthy stems from the fact that the tax rate on overall earnings begins to decrease once an individual's income exceeds u00a5100 million.
Japan Times
JAPAN / Politics
Dec 14, 2022
Defense spending debate threatens to divide ruling Liberal Democratic Party
Rather than raising taxes, some LDP lawmakers want the prime minister to issue government bonds.
Japan Times
JAPAN / Politics
Dec 13, 2022
Sanae Takaichi stands by criticism of plan to hike taxes for defense budget
The criticism came after Kishida on Thursday instructed the ruling parties to consider tax hikes to secure some u00a51 trillion to partially cover higher defense spending.
Japan Times
BUSINESS / Economy
Dec 13, 2022
Japan to raise taxes for rich with annual income of ¥3 billion
The government and the ruling coalition plan to offer the superwealthy a tax break for reinvestment of capital gains in startup companies to encourage investment.
Japan Times
JAPAN
Dec 13, 2022
Controversy grows over proposed use of Tohoku funds to cover defense spending
The government is eyeing using a special tax designed to finance reconstruction costs for areas affected by the March 2011 Great East Japan Earthquake.
Japan Times
COMMENTARY / Japan
Dec 13, 2022
The politics of Japan's defense spending
When Japan first imposed the 1% of GDP defense-spending ceiling , the issue has been a matter of politics and any attempt to breach that threshold has been taboo.
Japan Times
BUSINESS / FOCUS
Dec 12, 2022
Kishida's plan to fund higher defense spending faces backlash
The prime minister's suggestion of tax increases hasn't gone down well, even among Cabinet members and lawmakers from his own party.
Japan Times
JAPAN / Politics
Dec 11, 2022
Kishida dismisses using government bonds to finance defense budget hike
The prime minister says government bonds are not an option to cover defense spending increases due to the financial difficulties they would place on future generations.
Japan Times
JAPAN / Politics
Dec 10, 2022
Kishida's tax hike plan to cover defense shortfall draws backlash inside LDP
The blowback to Kishida's plan came to a head at an LDP Policy Research Council meeting, where about 40 of over 50 participants who spoke opposed the plan.
Japan Times
BUSINESS
Dec 9, 2022
Finance chief says Japan's fiscal restoration goal won't change with more defense spending
Shunichi Suzuki rejected calls from some ruling party lawmakers to issue new government bonds for the planned spending, saying that other stable funding sources are necessary.
Japan Times
JAPAN
Dec 8, 2022
Japan's ruling parties eye gradual tax hikes to cover more defense spending
Prime Minister Fumio Kishida has instructed his defense and finance ministers to target around u00a543 trillion in defense spending over the five years until fiscal 2027.
Japan Times
WORLD
Dec 7, 2022
Trump companies are convicted in NY criminal tax fraud trial
It is the first time a Trump business has been convicted of criminal conduct and comes as the former president is running for a second term.
Japan Times
JAPAN / Politics
Dec 6, 2022
Japan to defer tax hikes for defense spending until 2027
The delay is planned in light of economic uncertainties stemming from rising prices, while strong opposition from members of the ruling Liberal Democratic Party to corporate and other tax hikes was also a factor, sources say.
Japan Times
BUSINESS
Dec 4, 2022
Japan cautious on capital gains tax but must stick to increasing defense
Japan PM Kishida told his ministers last month to double the share of military outlay to 2% of gross domestic product within next five years in the face of regional threats.
Japan Times
WORLD
Nov 23, 2022
U.S. Supreme Court clears way for lawmakers to get Trump's tax returns
Trump was the first president in 40 years not to release his tax returns as he sought to keep the details of his wealth and the activities secret.
Japan Times
JAPAN
Nov 22, 2022
Kishida's hunt for cash to fund defense buildup
Alarmed by rising tensions in Ukraine and Taiwan, many in the country want a stronger deterrent, but few in the heavily indebted nation want more taxes to pay for it.
Japan Times
JAPAN
Nov 21, 2022
Panel says public must shoulder burden of strengthening Japan's defenses
The draft proposal rejected relying on government bond issues, and said that 'the burden must be shouldered by the public through a wide range of taxes.'
Japan Times
BUSINESS
Nov 19, 2022
Japan to beef up stock option tax breaks in bid to foster startups
Under the plan, executives and employees at startups will be eligible for a tax preference if they exercise stock options within 15 years after the right is granted.
Weak yen fattens tourist wallets in Japan
People visit the Ameya Yokocho market in Tokyo's Ueno district during the Golden Week holiday on Tuesday.
Biden calls ally Japan ‘xenophobic’ along with rivals China and Russia
U.S. President Joe Biden speaks in Syracuse, New York, on April 25.
Number of vacant homes in Japan hits record high of 9 million
A vacant house in Tokyo is seen demolished in January 2020.
Saudi Arabia steps up Gaza-related arrests as Israel ties edge closer
The arrests for Gaza-related posts indicate Crown Prince Mohammed bin Salman’s regime will take a hard line against citizens not toeing the line when it comes to normalizing ties with Israel.
'So hot you can't breathe': Extreme heat hits the Philippines
A pedestrian cools himself with a folding hand fan as he waits for a ride along a road in Manila on Wednesday, as extreme heat hit the Philippines.
Kishida sets sights on energy and climate in South America trip
Prime Minister Fumio Kishida will use a policy speech in Sao Paulo to set out his vision for ties between Japan and South America, almost 10 years after former Prime Minister Shinzo Abe advocated for stronger ties between the two in the same city.
Yellow sand allergy: A health issue made worse by climate change
A screenshot of the Meteorological Agency's satellite image of clouds and yellow sand (in pink) on Sunday.
Climate change, chalky grains and the risks for Japan’s rice farmers
A farmer plants seedlings in Satsumasendai, Kagoshima Prefecture. Japan’s self sufficiency rate for rice is nearly 100%, compared with 38% for food overall, on a calorie basis.
Japan wants you to spend more with ‘luxury tourism’
Performers play a traditional drum unique to Wajima, Ishikawa Prefecture, in the prefectural capital of Kanazawa on March 16 to mark the extension of the Hokuriku Shinkansen line to Tsuruga Station in Fukui Prefecture.
Theaster Gates’ ambitious ‘Afro-Mingei’ brings Black Chicago to Tokyo
Theaster Gates' “A Heavenly Chord” lines up church pews before seven speakers and a Hammond B3 organ, a type of electric organ prevalent in Black American churches.

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