In order to expand domestic investment and achieve sustainable wage increases, the government has newly designated companies larger than small and medium-sized enterprises as "medium-sized companies" and is implementing measures to strengthen industrial competitiveness, including support for growth. The Cabinet meeting on the 16th approved amendments to the Act and other laws.
The proposed amendments to the Industrial Competitiveness Enhancement Act, which were approved by the Cabinet on the 16th, would newly define companies with 2,000 or fewer employees and do not fall under the category of small and medium-sized enterprises as "medium-sized enterprises," and would require companies with high wage levels, For medium-sized companies that are actively investing domestically, in addition to providing tax support for business expansion through acquisitions, the Japan Finance Corporation will provide large-scale, long-term financial support.
In addition, in addition to making it possible to receive tax breaks to encourage domestic production in fields such as electric vehicles and semiconductors, where competition is intensifying internationally, we will also make it possible to receive tax breaks to encourage domestic production, and to encourage domestic research and development. Tax reduction measures will also be taken for the income earned.
The government hopes that these measures will lead to increased domestic investment and sustainable wage increases, and is aiming to pass this amendment bill during the current ordinary session of the Diet.