Japan may offer corporate tax breaks to companies that make business news digital

Japan may offer corporate tax breaks to companies that make business news digital

Public broadcaster NHK reported on Saturday that Japan is considering offering tax incentives to companies adopting digitalization.

The coronovirus epidemic highlighted the need for companies to digitize to improve their productivity, which prompted the government to consider steps to support its business reforms by digital technology, it said.

Prime Minister Yoshihida Suga has made “digital transformation” a major pledge in the country, aimed at streamlining business and government processes and promoting lackluster growth in the world’s third-largest economy.

NHK said the government and the ruling Liberal Democratic Party (LDP) details corporate tax breaks to be included in the tax amendments for the next fiscal year, primarily targeting medium-sized companies to boost their financial investment. Planned to discuss.

The Nikkei business also plans to consider tax incentives for small and medium-sized companies to promote mergers and acquisitions to boost their competition, according to the Daily News on Saturday.

Premier has said that it will take steps to revive small companies by promoting consolidation and promoting competition.

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