Japan may provide tax breaks for companies converting foreign profits into the yen

Info via Reuters citing Sankei report on Tuesday:

• Japan may introduce measures to provide tax breaks for companies converting foreign profits into the yen and include it in the government’s annual mid-year policy blueprint compiled in the summer
• incentivising firms to return overseas assets to Japan and thus yen supportive

• A finance ministry official was not immediately available for comment on Wednesday

• Some government officials are sceptical, telling Reuters prior to the newspaper report that favourable tax treatment has already been in place

This article was written by Eamonn Sheridan at www.forexlive.com.