The Home Affairs Ministry on Tuesday proposed a dual corporate tax system that would force businesses to pay local taxes, even if they are operating in the red.

The tax proposal, unveiled by Home Affairs Minister Mamoru Nishida at a news conference, features a reduction in the existing prefectural corporate tax and the creation of a new local tax to be levied regardless of whether a company posts a profit.

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.