(Versions in 日本語)
It is no surprise that, as part of its revised growth strategy presented in June, the Japanese government has announced it will reduce the corporate income tax rate. At more than 35 percent for most businesses, the Japanese rate is one of the highest among the industrialized countries of the Organization for Economic Cooperation and Development (see Chart 1). Moreover, at a time when Japan needs to boost economic growth, the corporate income tax rate is generally seen as the country’s most growth-distortive tax.
Filed under: Advanced Economies, Asia, Economic research, Employment, Financial regulation, Globalization, growth, IMF, International Monetary Fund, Investment | Tagged: consumption tax, corporate income tax, Italy, Japan, public debt, small and medium-sized enterprises, tax cuts, tax deduction, tax incentives | Leave a comment »