The opposition Democratic Party for the People’s tax chief on Monday hinted at the possible termination of discussions with the ruling bloc over the lifting of the minimum annual taxable income threshold from ¥1.03 million ($6,700).
The DPP would have to consider axing the talks if the ruling Liberal Democratic Party and its coalition partner, Komeito, stick to their proposal of raising the threshold to ¥1.23 million, Motohisa Furukawa, chair of the party’s Tax System Research Council, told reporters.
The ruling coalition’s tax chiefs made the proposal after the secretaries-general of the three parties agreed on Wednesday to start raising the minimum taxable income level next year. The DPP is demanding that the threshold be lifted to ¥1.78 million.
The three parties’ tax chiefs are scheduled to hold talks Tuesday.
“What will happen in the future depends on the discussion tomorrow,” Furukawa said.
