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Politics

Japan to lure overseas finance talent with inheritance tax break

Move is part of Tokyo's push to become a global financial hub

Tokyo's downtown skyline. Japan is looking for ways to become a more attractive destination for top overseas talent to work in.   © Reuters

TOKYO -- Japan plans to sharply cut the inheritance tax bills for highly skilled overseas professionals working in Japan, Nikkei has learned, as part of a broader scheme to nurture the country's status as a global financial center.

The plan is to exempt assets held abroad from the inheritance tax levy for certain qualified people. There are also reforms in the works that will expand the roster of companies that can book executive compensation as business expenses.

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