FXStreet (Mumbai) - Japan’s Prime Minister Shinzo Abe renewed his promise to cut corporate taxes, a day after fresh official GDP figures showed that businesses remain largely reluctant to boost domestic investment.
Mr. Abe said that he was prepared to reduce the effective corporate tax rate by at least 3.3% "next year" and possibly to go "beyond that if possible."
Key Quotes:
"We will push forward in reducing the rate down into the twenties over several years, bringing it to a level that compares favorably in the international context."
"We will change Japan into a country that is able to keep growing. Placing the economy as my highest priority, I will move forward steadily, step by step, on the roadmap for achieving this goal."
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