• SHARE

The business community should cooperate and accept a broadening of the corporate taxation base in return for a reduction in the actual taxation rate, Finance Minister Hiroshi Mitsuzuka said Sept. 2.

The nation’s efforts to correct its strained finances make it necessary to look for new sources of revenue to make up for the loss of 400 billion yen for every percentage point the corporate tax rate is cut, Mitsuzuka said in a speech in Tokyo. The actual tax rate for standard companies stands at 37.5 percent, and business leaders are demanding the government reduce that by 2.5 percentage points in its tax reform package for fiscal 1998, which is expected to be drawn up by year’s end.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW