Japan PM says 40,000 yen tax cut to come in June to support economy

Prime Minister Fumio Kishida said Friday that a 40,000 yen ($266) tax cut per person will come next June, expressing hope that it will support Japanese households struggling to cope with waves of price hikes and slow wage growth.For low-income earners, exempt from tax payments and particularly hard hit by inflation, the government will make cash handouts of 70,000 yen per household, Kishida said. The payouts will likely begin earlier than the tax cut, possibly by year-end.The plan is part of government efforts to return some of the increase in tax revenue over the past two years to resident…READ FULL ARTICLE