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 summerincentivising firms to return overseas assets to Japan and thus yen supportive

A finance ministry official was not immediately available for comment on WednesdaySome 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.