Kyodo News reports that Japan’s parliament passed a set of tax reform bills Tuesday centering on corporate tax cuts aimed at supporting private-sector businesses and attracting investment.

The government of Prime Minister Shinzo Abe will slash Japan’s current 34.62% effective corporate income tax rate to 32.11% in fiscal 2015 starting Wednesday and to 31.33% the following year.

Shinzo Abe

Leave a comment

Your email address will not be published. Required fields are marked *