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Japan May Eliminate Key Capital Gains Tax, Opening Gigantic Door for Foreign Investment
Japan’s government officials are talking about nixing a 40% capital gains tax for most foreign investors, which would open a huge door to foreign investors in a country that badly needs fresh capital.
A senior trade ministry official told Bloomberg News that the government is planning talks with state-owned sovereign wealth funds from Saudi Arabia, United Arab Emirates, Qatar and Kuwait to sketch more favorable investment conditions on Japanese soil.
“This is a significant step,” Hideki Hashiguchi, chairman of the Japan chapter of the Alternative Investment Management Association, told Bloomberg. “Japan is at a crossroad in becoming a leader in Asia with…
12Jan2009 | Money Morning | 0 comments | Continued
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