The ruling Liberal Democratic Party finalized a large package of tax revisions Wednesday allowing for a record 9.3 trillion yen in tax cuts for fiscal 1999.
The sum includes 6.3 trillion yen in individual and corporate income tax cuts agreed on earlier, as well as 1.2 trillion yen in housing-related reductions.
The annual package is a wide-ranging offer of tax cuts to shore up the ailing economy, tools to please political allies and measures to make the nation's financial markets internationally attractive.