On Friday I posted on the plans to cut Japan's corporate tax rate to below 30% as soon as next year, here:

  • Japan PM Abe: Corporate tax to be cut more than planned next fiscal year

Mike followed up with more on this over the weekend (and more again from the weekend)

More detail from the Nikkei now:

  • Japan's government is working on a plan that would lower the effective corporate tax rate from the current 32.11% to under 30% next fiscal year
  • Initially, the plan was to lower the effective corporate tax rate to less than 31% next fiscal year, with the roughly 600 billion yen ($4.8 billion) in necessary financial resources already secured
  • The additional 400 billion yen or so needed to bring the rate below 30% will be obtained by raising the tax on scale... and another 200 billion yen or so ... will be secured by reviewing various tax breaks

Nikkei piece is here

--

Note:

  • The effective corporate rate was 37% in fiscal 2013
  • it has since been lowered by 5%