Abe Plans Corporate Tax Cut in 2015 as Kuroda Warns on Finances

Japan’s Prime Minister Shinzo Abe said he aims to start cutting corporate taxes in 2015, reaching agreement with senior lawmakers on a core part of his agenda as the central bank kept up pressure for sustainable finances.

Abe, speaking to reporters in Tokyo yesterday after a meeting with Finance Minister Taro Aso and Economy Minister Akira Amari, said the plan would bring the rate under 30 percent in a few years. He said other revenue sources will be secured for the move, which requires approval from the Diet.