OSAKA -- The Osaka Prefectural Assembly approved a controversial bill Tuesday to impose a 3 percent tax on the gross profits of major banks operating in the prefecture.
Modeled on a bill adopted by the Tokyo Metropolitan Assembly in March, the new plan calls for a five-year tax of up to 3 percent on banks with 5 trillion yen or more in deposits.
As in Tokyo's case, about 30 banks will be affected by the measure, which would take effect next April.