What else is going on in the world apart from the US Congress carefully aiming a gun at its foot?
The Wall Street Journal reports:
- Japan’s ruling parties agreed to a modest cut in the corporate tax
- The corporate tax rate to be lowered to 35.64% from the current 38.01% when the next fiscal year starts in April 2014
- Japan PM Abe is set to announce the end of the reconstruction surtax and to pledge a further review of the tax rate late on Tuesday
Late Monday the joint tax panel of Mr. Abe’s Liberal Democratic Party and its junior partner, New Komeito, agreed to “consider” the cut and finalize the decision by December, adding that it will review tax revenue as well as corporate efforts to raise wages in making that call.
A ruling party lawmaker familiar with the tax debate said this signaled de facto approval. “I don’t even see a slim chance of Mr. Abe’s plan being flipped over.”
Japan’s Ruling Parties Give Green Light to Corporate Tax Cut (The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline)
