Japan Economics Minister: No Instructions From PM on Corporate Tax Cut

Japanese Economics Minister has informed that there have been no directives given by the Japanese prime minister on cutting corporate tax. This information was provided by the minister during a routine media briefing after the cabinet meeting. Some officials in the Japanese Government have been insisting on decreasing the corporate tax in order to provide relief to the corporate sector. Japanese premier has also already given a go ahead to increasing the sales tax from next year. Nikkei Business daily had recently reported that Japanese premier has been looking at different ways to boost the economy and has sought a full fledged discussion on ways to control deflation and give a boost to the economy.

Japanese government has already started a week long hearing with economists and business leaders on the subject of sales tax increase and the way in which the increase needs to be implemented. During the six days of hearing that started on Monday, August 26th, the government has plans to hear from 60 renowned economists and business leaders. Different sections of Japanese community including the academics, consumer unions, labor unions and small and big sized companies like Toyota would be presenting their views during the six day interactive session ending on August 31.

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