Japan's ruling coalition has reportedly approved a package of tax proposals that includes additional tax credits for companies that increase employee wages. The current credit incentives provide a tax credit of up to 20% of increased payroll for large companies that increase wages by at least 3% as compared to the prior year and a credit of up to 25% for SMEs that increase wages by at least 2.5%. The latest proposal would increase the credit to up to 30% for large companies that increase wage…