Top �� What's up around the Prime Minister �� December, 2003

Prime Minister Receives a Report of the Tax Commission Monday, December 15, 2003 Prime Minister Junichiro Koizumi received a report on FY2004 tax system revisions from Mr. Hiromitsu Ishi, the Chair of the Government Tax Commission at the Prime Minister's Official Residence. The Tax Commission compiled a report on tax revision for the coming fiscal year, which includes reduction in exemptions to public pension and to the elderly, and reduction in exemption to housing loans. Furthermore, regarding transfer of tax revenue sources, one of the pillars of the reform package of three issues, the report includes policies to implement the transfer of tax revenue sources to local governments by FY2006 through reform which will clarify the positioning of income tax and individual inhabitant tax.