Japan should not rush to raise capital gains tax

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Japan should not rush to raise capital gains tax

Japan should avoid rushing into raising capital gains tax as it could send a wrong message to markets when Japan is encouraging financial investment, a senior government official said on Sunday.

Deputy Chief Cabinet Secretary Seiji Kihara said in a program on FNN that a strengthening of taxation could send a wrong signal that runs counter to our aim of expanding investment.

Since Prime Minister Fumio Kishida took power last year, the tax has been contentious, and he has pledged to review the tax that favors the rich, who earns hefty financial investment income.

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