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Article: JAPAN GOVT SPLIT ON WHETHER TO KEEP CORPORATE TAX CREDITS.
- Article from:
- AsiaPulse News
- Article date:
- April 22, 2005
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TOKYO, April 22 Asia Pulse - Whether to extend 600 billion yen (US$5.6 billion) in corporate tax breaks for information-technology-related investment, as well as research and development, is becoming the focus of fiscal 2006 tax reforms.
Provisions allowing firms to gain tax relief for such outlays is due to expire at the end of fiscal 2005, and the Ministry of Economy, Trade and Industry is expected to seek an extension. But the Tax Commission and the Ministry of Finance say corporate tax concessions cannot be continued at a time when individuals face higher income taxes.
The two measures under scrutiny were adopted in fiscal 2003.
A provision ...