New Japanese Gov't Reveals Plan to Cut Corporate Tax

In a bid to take Japan out of a long recession, Japan's new government is considering slashing tax on corporate earnings by 5%, reports Channel News Asia.


Channel News Asia notes that the government aims to bring the rate down to international standards which is 10 to 15 points lower than Japan's.


"It is now the time to decide (on cutting corporate tax) for the sake of future economic vitality, employment and securing increased tax revenues," Economy, Trade and Industry Minister Masayuki Naoshima told the Nikkei Business Daily.


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