This isn’t new news, just noting it in the Japanese press: Abe advisers to propose cutting corporate tax to 20% level

University of Tokyo economist Motoshige Itoh and three other nongovernment members of the Council on Economic and Fiscal Policy are expected to recommend lowering the tax in 2-percentage-point increments starting next fiscal year. That would be shorter than the five years mentioned by Akira Amari, the economic and fiscal policy minister, as one possible time frame. Abe will have the final say on the matter.

Itoh and chums say that

a rise in tax receipts driven by economic growth should go toward offsetting the cut, which would amount to 3 trillion yen ($29.1 billion). Japan can lower its corporate tax while achieving the goal of halving its primary deficit from fiscal 2010 levels by next fiscal year

Other comments crossing the wires this morning on the corporate tax cut from Aso and Amari