Tax reform refers to the modification or restructuring of the tax system within a country or jurisdiction. This can encompass a wide range of changes, including adjustments to tax rates, the introduction or elimination of specific taxes, alterations in tax deductions and credits, and modifications in compliance and collection processes. The aim of tax reform is often to improve the efficiency, fairness, or simplicity of the tax system, enhance revenue generation for government funding, stimulate economic growth, and address inequities in the tax burden among different income groups or sectors of the economy. Tax reform can also be a response to changing economic conditions or public sentiment regarding taxation.
The Japanese National Diet is debating changes to the retirement tax system, known as the "salaryman tax increase," which affects financial security for retirees. Current tax benefits reward long-term employment,…