Japan's National Diet (parliament) approved the bill for the government's tax reform proposals for 2022 on 22 March 2022, which was enacted on 31 March and generally applies from 1 April 2022. One of the main measures amends the tax credit for wage/salary increases with effect from 1 April 2022 to 31 March 2024, providing for a credit equal to 15% to 40% of the wage/salary increase (difference) as compared to the previous year, depending on company size, subject to a cap equal to 20% of the c…