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Japan considers income tax revisions to lure financial talent

Fiscal policy minister also pledged better living conditions for foreigners

Minister for Economic Revitalization Yasutoshi Nishimura speaks during the Nikkei Virtual Global Forum on Dec. 2 in Tokyo. (Photo by Kai Fujii)

TOKYO -- Japan is considering reducing income tax to attract international talent in the financial sector, said Yasutoshi Nishimura, minister in charge of fiscal policy and economic revitalization, on Wednesday.

To lure international asset management companies and talent in the financial sector, Japan would "consider treating part of investment profits as financial income," said Nishimura in a session at the Nikkei event "International Financial Hub -- Japan’s Role." The new policies would be included in the 2021 tax reform outline, to be drafted this month.

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