The more interesting item in this piece from Bloomberg is "Ally of Japan's Premier Calls for Capital Gains Tax Hike to 25%"
Referring to Kozo Yamamoto, a member of Kishida's faction of the ruling Liberal Democratic Party:
- capital gains tax could be raised to 25% from the current 20% without affecting stock prices
- also told Bloomberg more than 30 trillion yen ($269 billion) in fiscal spending was needed to help the economy recover from the effects of the coronavirus pandemic
I can't wait to see how stock investors in Japan respond to the prospects of a 25% capital gain tax ... without affecting stock prices
Good luck with that.
Bloomberg piece is here (may be gated)