Japan's Ruling Camp Begins Tax Reform Discussions

Politics Lifestyle

Tokyo, Nov. 21 (Jiji Press)--Japan's ruling coalition Thursday started full-fledged discussions on fiscal 2020 tax system reform, including proposed incentives for corporate investment and support for unmarried single parents.

The ruling bloc plans to compile its tax system reform package on Dec. 12.

"Discussions should focus on ensuring a fair and equitable tax system," Akira Amari, chairman of the ruling Liberal Democratic Party's Research Commission on the Tax System, told members of the panel.

The LDP and its coalition partner, Komeito, will consider tax incentives to promote investment by major companies with large cash reserves in startups.

The balance of internal reserves held by Japanese companies stood at a record high of some 463 trillion yen at the end of March.

[Copyright The Jiji Press, Ltd.]

Jiji Press