The Bank of Chugoku Facilitates Corporate Hometown Tax Donations to Revitalize Regional Economies

Promoting Regional Contributions Through the Corporate Hometown Tax System

The Bank of Chugoku, Ltd. is actively rolling out support services to promote the "Corporate Hometown Tax" (Kigyo-ban Furusato Nozei) system, aiming to drive the sustainable development of local communities and regional revitalization. This initiative matches forward-thinking corporations with regional revitalization projects formulated by local governments, fostering new value creation through public-private partnerships.

Overview of a Recent Donation Case

Through the informational support and mediation of The Bank of Chugoku, Yoshiken Co., Ltd. (based in Okayama City) recently expressed its support for Soja City's "Child- and Resident-Friendly City Development Project" and made a donation. For local governments, this serves as a valuable source of revenue, while contributing corporations can expect benefits such as enhanced regional engagement and tax deductions.

Significance of the Corporate Hometown Tax System

Established in fiscal 2016, the Corporate Hometown Tax system allows companies to receive tax deductions on corporate-related taxes when they make donations to government-certified regional revitalization plans. Beyond mere philanthropy, the system encourages the building of public-private partnerships and is gaining attention as a vital tool for driving regional economic revitalization, including the creation of new businesses utilizing local resources.

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Future Outlook for The Bank of Chugoku

Moving forward, The Bank of Chugoku intends to leverage its unique financial network and consulting capabilities to actively support public-private initiatives that contribute to solving regional challenges. As a community-rooted financial institution, the bank remains committed to continuously contributing to the promotion of regional revitalization.