Japan considering raising income tax threshold in fresh economic stimulus

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TOKYO : Japan is set to kick off discussions on raising the basic tax-free income allowance in effective permanent tax cuts worth up to $51 billion, a step that could also help ease constraints on part-time workers amid intensifying labour shortages.

Daiwa Research Institute estimates that about 610,000 students currently voluntarily limit their working hours to avoid hitting the threshold.

"Japan's goal of running a primary budget surplus in the next fiscal year would be absolutely impossible.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Million Billion Government Income Year Labour Japan Trillion Threshold Workers Stimulus

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 14:15:13 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 582 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23756729

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