Japan’s Ruling Camp, DPFP Agree to Continue Income Tax Talks

Jiji Press

16:28 JST, December 20, 2024

TOKYO (Jiji Press) — The secretaries-general of Japan’s ruling Liberal Democratic Party, its coalition partner, Komeito, and the opposition Democratic Party for the People agreed Friday to continue talks on raising the minimum annual taxable income from ¥1.03 million at present.

The three parties’ tax chiefs had been discussing raising the threshold. On Tuesday, the DPFP, which has been seeking to raise the threshold to ¥1.78 million , pulled out of the talks out of dissatisfaction with the ruling camp’s proposal to increase it to ¥1.23 million .

The three parties’ secretaries-general signed an agreement on Friday that the LDP, Komeito and the DPFP will continue to hold sincere talks.

The policy and tax chiefs of the three parties will resume the talks on Tuesday, DPFP Secretary-General Kazuya Shinba told reporters after Friday’s meeting.

LDP Secretary-General Hiroshi Moriyama told reporters that whether the threshold will be raised from the proposed ¥1.23 million will depend on talks.