Pedestrians walk along a shopping street in the Motomachi District of in Yokohama, Japan, on Sept. 16, 2020. Tokyo has tried for years to increase its status as a global financial hub, but has faced problems including bureaucracy seen as excessive and a language barrier. - Bloomberg
TOKYO (Bloomberg): Japan's ruling Liberal Democratic Party (LDP) is looking to submit a proposal to the Cabinet next week that would help lure firms and financial professionals looking to relocate from Hong Kong due to its political uncertainty.
Details of the plan released Wednesday (Sept 23) from a party special committee said that in order to make the country more attractive, Japan needs to ease tax burdens, including inheritance taxes, that can be higher than those in financial hubs such as Hong Kong and Singapore.
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