The government's Tax Commission will compile a report by the end of November detailing a range of fiscal 2003 tax reforms advocated by Prime Minister Junichiro Koizumi, the panel's chairman said Friday.
Hiromitsu Ishi told a news conference after a panel meeting the report will focus specifically on five tax reform proposals that Koizumi presented to the panel last month.
The measures include revamping the gift and inheritance taxes, cutting the amount of small sales transactions from which the consumption tax is exempted, and introducing tax breaks for corporate research and development.
Ishi said longer-term tax reform proposals will be discussed early next year.
The other two measures are introducing a system that levies taxes on companies based on factors other than income, and a cut in tax deductions for spouses and family members.
Ishi said other, longer-term tax reform proposals will be discussed by the panel early next year.