Industry ministry eyes lower tax burden on Japanese-based tech firms

Politics Economy

The industry ministry is considering reducing tax burdens on Japanese-based technology companies for their overseas business earnings to international levels, government sources said Monday. The Ministry of Economy, Trade and Industry plan is intended to prevent companies from shifting their offices and assets like patents and data to low-tax foreign countries and territories as part of efforts to maintain employment in Japan, the sources said. But the Finance Ministry is cautious about the plan, saying any action that would lead to lower rates would shrink tax revenues. The METI plan comes as...

Kyodo News

Kyodo News