Japan may introduce tax incentives to curb yen depreciation
2024-05-01 05:43:05
On May 1st, according to the Sankei Shimbun, Japan may introduce measures to provide tax relief for companies that convert overseas profits into yen. The tax relief will be applied to the "foreign direct ROI" of companies' overseas subsidiaries worth about 20 trillion yen (126.74 billion dollars). It is reported that Japan intends to include the plan in the annual mid-year policy blueprint compiled by the government this summer. According to reports, the tax incentive policy may be used as a policy tool to curb the sharp decline in the yen, encouraging companies to return overseas assets to Japan. The Japanese Ministry of Finance has not commented on this, but some government officials are skeptical, arguing that the preferential tax treatment is already in place, and the additional measures may have an impact.
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