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The government’s key tax panel plans in principle to reject about half of the tax-break requests for designated industries for fiscal 2010, as well as the higher gift tax exemption, ruling bloc lawmakers said.

Through the rejection, the government could secure about ¥300 billion in additional revenue. Of the 198 requests submitted by central government offices last month, the advisory panel to Prime Minister Yukio Hatoyama has decided not to accept 93, the lawmakers said.

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