The ruling coalition announced a package of tax reforms for fiscal 2002 on Friday evening that will result in an estimated revenue loss of about 30 billion yen.

The reforms are less drastic than past packages because the government has no money with which to fund a major tax break and Prime Minister Junichiro Koizumi has set a 30 trillion yen cap on new bond issues, according to government officials.

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.