TOKYO: Japan's new Prime Minister, Fumio Kishida, said on Sunday he will not seek to change the country's taxes on capital gains and dividends for now as he intends to pursue other steps for better wealth distribution, such as raising wages of medical workers.
The premier's new stance indicates his concern about jitters in the stock market caused by the prospects of higher tax levies. "I have no plan to touch the financial income tax for the time being ... There are many other things to tackle first," Kishida told a news programme on commercial broadcaster Fuji Television Network.
Some investors have expressed concern that the new premier may press ahead with capital-gains tax hikes, signalling a turnaround from investor friendly economic policies pursued by Japan's longest-serving premier, Shinzo Abe, from 2013 to 2020.