Wednesday, Nov 25 2020 | Time 18:01 Hrs(IST)
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  • Cabinet nod to Rs 6000 cr capital infusion into NIIF Infrastructure Debt Financing Platform
  • Cyclone intensifies into Very Severe Cyclonic Storm 'Nivar', moves further closer to coast
  • Cabinet approves amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited
  • Ex-minister Khan, aides join AP in Srinagar
  • Panic in Pakistan SC after lawyer's COVID claims
  • Odisha Crime Branch to investigate abduction and murder of five-year-old girl: Minister
  • Chinese tech firm Xiaomi ready for 5G deployment
  • CRPF distributes food kits to 100 families in Baramulla
  • Odisha Crime Branch to investigate abduction and murder of five-year-old girl: Minister
  • Avalanche warning issued for higher reaches in J&K
  • Editors Guild of India sets up Legal Advisory Panel on press freedom
  • Three beheaded bodies of youths found in Khunti
  • High reaches of HP receive snowfall
  • Sensex down 694 92 pts
  • Clash between two groups in Chatra shot fired
WorldPosted at: Nov 25 2020 4:25PM


Japan to weaken tax burden on long-term foreign residents

Tokyo, Nov 25 (Sputnik) Japan intends to relax taxation of foreign residents who have lived in the country for more than ten years to make the country more attractive as a financial hub, the Kyodo news agency reported on Wednesday.
Under the current laws, Japan levies an inheritance tax on foreigners' overseas assets, provided that they have lived in the country for over ten years, but a special measure may make them exempt from that requirement, the agency's sources say. Tokyo will also allow companies that are not listed at the stock exchange to claim payments to their executives as business expenses to reduce their corporate taxes.
According to the agency's source in the ruling Liberal Democratic Party (LDP), these measures aim to retain foreign specialists who leave the country within ten years to avoid additional taxes.
The measures are said to be part of the tax reform package for 2021 fiscal year.
SPUTNIK ACL1624
Tags: #Japan to weaken tax burden on long-term foreign residents
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