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November 21, 2024
 

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TAXES

The Cabinet of Prime Minister Shigeru Ishiba is set to approve an economic stimulus package totaling ¥21.9 trillion on Friday.
JAPAN
Nov 21, 2024
Ishiba set to announce $140 billion stimulus package
The package aims address a range of challenges from inflation to wage growth, and alleviate a cost-of-living crunch.
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
JAPAN / Politics
Nov 20, 2024
Ruling coalition and DPP strike last-minute deal over economic policy
The package will include cash handouts to lower-income households and subsidies to help families cope with rising utility bills.
A Ferrari F12tdf fetched a record-high price of ¥171,001,000 ($1.09 million) in a tax agency auction this week.
BUSINESS
Nov 15, 2024
Ferrari sells for ¥171 million at Japanese tax sale
The gunmetal gray Ferrari F12tdf, registered in 2017 and with only 1,509 kilometers on the odometer, received 127 bids during the auction.
Democratic Party for the People head Yuichiro Tamaki speaks to reporters in Tokyo on Nov. 8.
JAPAN / Politics
Nov 15, 2024
DPP leader clashes with governors over tax-free income limit
Prefectural governors fear that raising the ¥1.03 million limit would means less central government tax money for local services.
Prime Minister Shigeru Ishiba at the Prime Minister's Office on Thursday
JAPAN / Politics
Nov 15, 2024
LDP eyes larger tax breaks for individual political donations
The move is designed to lower the share of political donations from companies and organizations, which have been subject to public criticism.
Democratic Party for the People chief Yuichiro Tamaki wants to the tax-free annual income ceiling raised to ¥1.78 million ($11,410).
BUSINESS / Economy
Nov 14, 2024
Japan’s key political issue rests on an enduring economic myth
Economists cast doubts on the Democratic Party for the People's push for raising the tax-free income threshold — its key demand to the ruling coalition for its support.
Taxes on U.S. citizens working abroad aren’t excessive so much as excessively complicated.
COMMENTARY / World
Nov 14, 2024
Trump is right: Expat taxes are too complicated
Taxes on U.S. citizens working abroad aren’t excessive so much as excessively complicated.
Itsunori Onodera (center), policy chief of the ruling Liberal Democratic Party (LDP), told a TV program that the government should consider raising the threshold for income tax exemption but also discuss how to make up for expected falls in tax revenue.
JAPAN / Politics
Nov 10, 2024
Ruling and opposition blocs affirm need to review ¥1.03 million barrier
Officials from the LDP, Komeito and opposition parties all pointed to a need to raise the income threshold.
Liberal Democratic Party policy chief Itsunori Onodera (right) and his Democratic Party for the People counterpart, Makoto Hamaguchi, meet in Tokyo on Friday to discuss policies their parties could potentially agree on.
JAPAN / Politics
Nov 8, 2024
LDP between a rock and a hard place in struggle to get DPP support
The opposition party wants to raise the threshold for tax exemptions from the current ¥1.03 million ($6,740), a move that would cost the government tax revenues.
Akira Amari, a former economy minister, championed funneling large sums of public money into building up the country’s semiconductor capacity.
BUSINESS / Economy
Oct 29, 2024
Japan’s chip push loses key advocate after election defeat
Akira Amari had championed funneling large sums of public money into building up the country’s semiconductor capacity.
Passengers walk through the departure lobby of Haneda Airport in Tokyo.
JAPAN
Oct 25, 2024
Over ¥300 million in taxes not collected from foreign tourists in 2022
In cases where the amount of duty-free purchases exceeds ¥100 million, authorities notify travelers of consumption taxation.
A Japan Ground Self-Defense Force battle tank fires ammunition during a live fire exercise at East Fuji Maneuver Area in Gotemba, Shizuoka Prefecture, in May.
JAPAN / Politics
Oct 25, 2024
Defense tax hikes hinge on election results
Ruling and opposition parties share a recognition that Japan faces a tough security environment.
A Ferrari F12tdf that the Tokyo Regional Taxation Bureau is listing for an online public auction
JAPAN
Oct 16, 2024
Tokyo tax office to sell Ferrari with bids starting at ¥71.3 million
The car is one of a number of items listed by tax authorities for an online auction of assets seized mainly from people with unpaid taxes.
Prime Minister Shigeru Ishiba during a debate session with other political party leaders at the Japan National Press Club in Tokyo on Saturday
BUSINESS
Oct 15, 2024
Japan’s sales tax likely to remain 10% as big parties avoid third rail
Prime Minister Shigeru Ishiba aims to fund social security programs without changing the current tax rate of 10%.
An event to support Fukushima, Miyagi and Iwate prefectures is held in Sendai in March, with booths offering local specialties.
JAPAN / Society / Regional Voices: Fukushima
Sep 30, 2024
Nearly 40% of Fukushima municipalities want hometown tax system revised
Some want the central government to implement measures to establish a system that narrows disparities among municipalities.
The real significance of Brussels' case against Apple is that it will increase pressure to reform how multinationals allocate their profits globally and are taxed.
COMMENTARY / Japan
Sep 15, 2024
Ireland struck it rich with Apple. Others struck it poor.
The Apple case highlights the need for global tax reforms to ensure multinationals pay taxes where they operate, benefiting countries beyond just Ireland.
The Tokyo Regional Taxation Bureau in Tokyo's Chuo Ward
JAPAN / Society
Sep 13, 2024
Chief priest of Tokyo shrine allegedly took ¥250 million from amulet sales
The priest and the corporation that runs the shrine have been hit with additional taxes, including penalties, worth about ¥130 million.
The European Court of Justice is set to give a ruling on Irish tax breaks to U.S. company Apple on Tuesday.
BUSINESS / Tech
Sep 10, 2024
D-Day for Apple and Google as EU court to rule on major cases
The Apple case has been one of several investigations in the previous decade into sweetheart tax arrangements between major companies and several EU countries.
California has ambitious climate policies. But the state should shift more green energy-related costs from electricity bills to taxes to promote fairness and sustainability.
COMMENTARY / World
Sep 9, 2024
California's crushing power bills challenge its climate goals
California is incredible, but making it livable, what with its droughts, floods, fault-lines and wildfires, has never been cheap.
Shigeru Ishiba speaks at a supporters meeting in Tokyo on Aug. 30.
JAPAN / Politics
Sep 5, 2024
Taxes and political reform in focus in upcoming LDP campaign
The candidates’ recipes to put the economy back on track after decades of low growth are varied, with some emphasizing redistribution and others promising no tax hikes.
Ishiba delays meeting with Trump, citing legal restrictions
Prime Minister Shigeru Ishiba waves upon arrival for the Asia-Pacific Economic Cooperation forum, in Callao, Peru, on Friday.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Rising sex tourism exposes loopholes in Japan's anti-prostitution law
While financial misfortunes during the COVID-19 pandemic may have driven some women to work the streets, others simply want more money to spend — or want to pay off their debts — at host clubs.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
Ruling coalition and DPP strike last-minute deal over economic policy
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
Japanese expats in Asia find community through rugby
The Taiwan Fivewoods celebrate their victory at the 2023 Asian Japanese Rugby Cup in December of last year.
In Fukushima, a weekend of prose, poetry and translation
Aomori-based writer JJ Carter presented on tabletop gaming as creative inspiration for building characters and narratives.
For Dr. Nakamats, aging is just experience in action
Though he didn't win the recent gubernatorial election in Tokyo, the 96-year-old Dr. Nakamats' run was seen as inspirational in Japan's aging society.

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