Japan is reportedly looking to extend preferential tax deductions for households engaged in child-rearing, soon. Such tax benefits have been a crucial part of the government's strategy to support families, reduce financial burdens, and encourage fertility rates. Precise details about the extension, including its duration or any changes to the policy's conditions, are currently unspecified.

In Japan, raising children can be financially challenging due to high educational and living costs. The tax deduction policy is a significant support mechanism from the government. It reduces taxable income for families, helping to alleviate some financial constraints and fostering a more conducive environment for childbirth and childcare.

In contrast, countries like the US and some in the EU have different systems in place to support families with children. For example, the US uses a system of tax credits rather than deductions; meanwhile, several EU nations provide direct childcare subsidies or free education.