Japan LDP Mulling Concession over Income Tax Threshold
Tokyo, Feb. 17 (Jiji Press)--Japan's government and ruling Liberal Democratic Party have begun discussions on a concession over a proposed hike in the 1.03-million-yen income tax threshold, an LDP executive said Monday.
The government and the LDP are considering raising the threshold to around 1.5 million yen for individuals earning 2 million yen or less per year.
The LDP is expected to present the idea during the talks among the leaders of the tax panels of the LDP, its coalition partner, Komeito, and the opposition force Democratic Party for the People that will be resumed Tuesday.
The government and the LDP are also considering a tax deduction increase for individuals with annual incomes between 2 million and 5 million yen.
The focus will be whether an agreement can be made with the DPFP, which seeks a threshold hike to 1.78 million yen.
(2025/02/17-23:57)
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