[HIGHLIGHTS] Laws related to tax reform for the new fiscal year, including fixed tax reductions, passed and enacted at the plenary session of the House of Councilors.

Laws related to tax reform for the new fiscal year, including fixed tax reductions, passed and enacted at the plenary session of the House of Councilors. New fiscal year 2024 includes implementation of a fixed tax reduction of 40,000 yen per person and expansion of the "wage increase tax system" to encourage small and medium-sized enterprises to raise wages.

Law states that a fixedTax Reduction will be implemented from June this year and that tax reductions can be carried forward for up to five years.