Japan’s high taxes chase away bankers

UNPOPULAR: A finance executive in Tokyo making US$400,000 a year would be left with US$225,941 after taxes, whereas they would collect US$331,000 in Hong Kong Bloomberg Japan’s push to make itself a more attractive financial hub faces a taxing problem if it is to stop the drip-drip departure of finance professionals to other countries in Asia. While the COVID-19 pandemic has put most relocations on the back burner for now, Japanese Prime Minister Yoshihide Suga is trying to better position Tokyo as a potential base for financiers when transfers and hiring return. Efforts so far show that the government has identified taxation and the language barrier as key hurdles. China’s intensifying...