Japanese Government Task Force Recommends Corporate Tax Cuts

A government task force on Friday called for corporate tax cuts and a broader share of the tax burden to be placed on companies, emphasizing that Japan’s current system requires only some profit-making firms to pay taxes.

The group, created under the Tax Commission to discuss issues related to corporate tax, also said in its proposal that broadening the tax base would help secure financial resources to cover a possible decline in tax revenues.

The proposal was released a day after Prime Minister Shinzo Abe expressed eagerness to pledge in his administration’s new longer-term economic and fiscal policy blueprint to cut the country’s relatively heavy corporate income tax rate over the coming years.

The group of the government tax commission — an advisory body to Abe — plans to finalize the proposal in the near future. It is expected to be incorporated in the policy blueprint scheduled to be compiled in June.

via Mainichi

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