• Kyodo


Prime Minister Shinzo Abe’s Cabinet on Tuesday approved tax policy changes for fiscal 2014, imposing higher taxes on households despite a planned sales tax hike, while giving benefits to companies to shore up the economy.

The new tax reform plan is estimated to make tax cuts of ¥739.1 billion for the next fiscal year starting April 1 in combined state and local taxes from this fiscal year, the Finance Ministry said.

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