BANGKOK -- It is a hopeful sign that professor Masaaki Honma of Osaka University has been set to be appointed chairman of the tax panel that briefs the prime minister. This would be a happy departure from the position of the current chairman of the tax panel, Hiromitsu Ishi, who consistently advocated raising taxes to bolster state finances.
In a statement after news of his possible appointment was made public, Honma stated that he will consider recommending corporate tax cuts to boost economic growth. This would be an important step given that Japan has not matched the reforms of corporate taxation systems carried out among its competitors.
Japan, China and Thailand all have a 30 percent corporate tax rate while Malaysia has a slightly lower rate of 28 percent.