print PRINT

ECONOMY

Gist of FY 2019 tax reform package approved by ruling parties

  • December 14, 2018
  • , Kyodo News , 02:02 p.m.
  • English Press

TOKYO – The following is the gist of a tax reform package for fiscal 2019 approved Friday by the ruling coalition of the Liberal Democratic Party and Komeito.

Under the package:

 

— tax deductions for people with home mortgages will be extended from the current 10 years to 13 years.

 

— a person buying a new car after Oct. 1 will pay between 1,000 to 4,500 yen less in annual car ownership tax.

 

— municipalities offering overly expensive gifts to attract “hometown tax” donors will be banned from June 1.

 

— single parents who have never been married and have low income will receive tax cuts and 17,500 yen a year in additional benefits.

  • Ambassador
  • Ukraine
  • OPINION POLLS
  • COVID-19
  • Trending Japan