From the Nikkei (Japan press) over the weekend:
- The Japanese government is preparing to cut the country's effective corporate tax rate to less than 30% in fiscal 2017, which starts in April of that year, people familiar with the matter said Saturday.
- Japan's effective corporate tax rate currently averages 32.11%
- Plans are to lower it to 31.33% in fiscal 2016
- No firm decision has been made for fiscal 2017 and beyond
This should be viewed as a yen positive to the extent it gives a boost to Japanese companies, especially their investment plans, and reduces pressure on the BOJ to ease further.