The LDP (Japan's governing party) approved a corporate tax rate cut, from the current 32.11% to 29.97% in the year beginning April 1
- Approved yesterday
But, income tax for individuals is a more difficult issue, says the Nikkei:
But the ruling parties expended so much energy arguing over a reduced consumption tax on food that they passed over the bigger matter of overhauling the income tax. They feared to tread on this politically sensitive issue ahead of next summer's upper house election.