Nikkei comments on proposals for Japan govt to consider a wider tax base as an offset to implementing lower corporate taxes
- Effective FY14/15, Japan corporate tax rate will be 35.64%.
- Non-govt researchers/academics have suggested lower the rate to 25% to match some of its neighbors
- According to Japan Fin Min, each 1pct cut would represent about ¥470B less in tax revenue, prompting talks of "tightening exemptions for dividend income and restricting the use of losses to offset future profits" to make up for the shortfall.