Japan PM Kishida says has no plan to alter capital-gains, dividend taxes

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TOKYO, Oct 10 (Businesshala) – Japan’s new prime minister, Fumio Kishida, said on Sunday that he would not like to change the country’s taxes on capital gains and dividends for now as he intends to take other steps for better wealth distribution. , such as increasing the salary of medical workers.

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Kishida, who has vowed to address wealth inequalities, previously said reviewing those taxes would be an option to close the income gap.

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Kishida took the top job in the world’s third-largest economy on Monday, replacing Yoshihide Suga, who had seen his support for surging COVID-19 infections undercut.

“At the moment I have no plans to touch my financial income tax … there are many other things to deal with first,” Kishida said in a news program on the commercial broadcaster Fuji Television Network.

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“Misconception is spreading that I may do it soon. If not dispelled strongly it will cause unnecessary worry to the concerned people.”

Some investors have expressed concern that the new premier may go ahead with a capital gains tax hike from 2013 to 2020, signaling a shift from investor-friendly economic policies adopted by Japan’s longest-serving chief Shinzo Abe.

Japan’s benchmark Nikkei average (.N225) has dropped 7% since Kishida won the ruling Liberal Democratic Party (LDP) leadership election late last month, practically based on the LDP’s parliamentary majority for the post of premier. Achieved it.

Reporting by Kiyoshi Takenaka; Editing by Muralikumar Anantharaman

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