Editorial

15:00 JST, March 17, 2025

The income tax system, which underpins the foundation of the nation’s public finances, must not be distorted by political parties competing to win public favor. It is necessary to listen to the voices of the people and discuss what the system should look like.

Deliberation on tax reform bills to raise the “annual income barrier,” the income threshold for the imposition of income tax, from ¥1.03 million to ¥1.6 million has begun in the House of Councillors.

There are two deductions for company employees and other salaried workers: a basic deduction of ¥480,000, which is applied to all people in principle, and an employment income deduction of at least ¥550,000, which is based on annual income. For an annual income that is the total of these two deductions — ¥1.03 million — or less, no income tax is levied.

Given the........

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