{"id":167232,"date":"2024-11-26T11:51:33","date_gmt":"2024-11-26T02:51:33","guid":{"rendered":"https:\/\/www.fukuoka-now.com\/?post_type=news&#038;p=167232&#038;lang=en"},"modified":"2024-11-26T11:51:33","modified_gmt":"2024-11-26T02:51:33","slug":"tax-exemption-change-could-cost-fukuoka-trillion","status":"publish","type":"news","link":"https:\/\/www.fukuoka-now.com\/en\/news\/tax-exemption-change-could-cost-fukuoka-trillion\/","title":{"rendered":"Tax Exemption Change Could Cost Fukuoka \u00a51.5 Trillion"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Fukuoka Governor Hattori addressed the potential financial impact of raising Japan\u2019s income tax exemption threshold from \u00a5103 million to \u00a5178 million during a press conference on November 25. While expressing support for the revision as necessary to align with rising prices and minimum wages, he emphasized the need for government-led financial measures to mitigate the resulting fiscal shortfalls for local governments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The policy change, championed by the Democratic Party for the People, has been agreed upon by the Liberal Democratic Party and Komeito. If enacted, the national and local governments combined could face a revenue loss of \u00a57\u20138 trillion. For Fukuoka Prefecture, estimates predict a reduction of \u00a5467 billion in prefectural resident taxes, with an additional \u00a51.1 trillion lost across the cities and towns, totaling a deficit of approximately \u00a51.577 trillion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Governor Hattori stressed the economic benefits of the change, such as increased disposable income and improved labor shortages, but warned of potential reductions in administrative service levels due to the sudden fiscal impact. He urged the central government to prioritize financial countermeasures to support regional municipalities during the transition. <\/span><b>Source: <\/b><a href=\"https:\/\/www3.nhk.or.jp\/fukuoka-news\/20241125\/5010026306.html\" rel=\"noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">NHK<\/span><\/a><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-167221\" src=\"https:\/\/i0.wp.com\/www.fukuoka-now.com\/wp-content\/uploads\/2024\/11\/fnn_tenjin-intersection-nov_2024_WEB.jpg?resize=1400%2C1050&#038;ssl=1\" alt=\"Tax Exemption Change Could Cost Fukuoka \u00a51.5 Trillion\" width=\"1400\" height=\"1050\" srcset=\"https:\/\/i0.wp.com\/www.fukuoka-now.com\/wp-content\/uploads\/2024\/11\/fnn_tenjin-intersection-nov_2024_WEB.jpg?w=1400&amp;ssl=1 1400w, https:\/\/i0.wp.com\/www.fukuoka-now.com\/wp-content\/uploads\/2024\/11\/fnn_tenjin-intersection-nov_2024_WEB.jpg?resize=300%2C225&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.fukuoka-now.com\/wp-content\/uploads\/2024\/11\/fnn_tenjin-intersection-nov_2024_WEB.jpg?resize=1024%2C768&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.fukuoka-now.com\/wp-content\/uploads\/2024\/11\/fnn_tenjin-intersection-nov_2024_WEB.jpg?resize=768%2C576&amp;ssl=1 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Stay informed with the latest Fukuoka &amp; Kyushu news and events in English. Sign up for our <\/span><a href=\"https:\/\/www.fukuoka-now.com\/en\/mailmagazine\/\"><span style=\"font-weight: 400;\">free weekly newsletter <\/span><\/a><span style=\"font-weight: 400;\">today and never miss a beat. Opt out anytime, your privacy is our priority. Get the inside scoop with <\/span><a href=\"https:\/\/www.fukuoka-now.com\/en\/mailmagazine\/\"><span style=\"font-weight: 400;\">The Now<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Summaries based on public content, errors may occur during translation. Images credited independently. Send feedback using <\/span><a href=\"https:\/\/www.fukuoka-now.com\/en\/contact\/\"><span style=\"font-weight: 400;\">this <\/span><b>form<\/b><span style=\"font-weight: 400;\">.<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fukuoka Governor Hattori addressed the potential financial impact of raising Japan\u2019s income tax exemption threshold from&#8230;<\/p>\n","protected":false},"author":29305,"featured_media":167229,"comment_status":"closed","ping_status":"closed","template":"","tags":[],"class_list":["post-167232","news","type-news","status-publish","has-post-thumbnail","hentry","location-fukuoka-prefecture","news-category-politics","en-US"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/news\/167232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/users\/29305"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/comments?post=167232"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/media\/167229"}],"wp:attachment":[{"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/media?parent=167232"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fukuoka-now.com\/wp-json\/wp\/v2\/tags?post=167232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}