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3rd Meeting of the Tax Commission
Prime Minister Receives a Report on the FY2007 Tax System Revision
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Prime Minister Shinzo Abe attended the 3rd meeting of the Tax Commission at the Prime Minister's Official Residence and received a report on the FY2007 tax system revision from Mr. Masaaki Honma, the Chair of the Commission.
The report looks into those issues that require immediate review in the context of comprehensive tax system reform. They include: review of the depreciation system and accumulated earnings tax system with a view to facilitating economic vitalization; the response of the tax system to institutional reforms such as in the Corporation Law and the Investment Fund Law; a modality of the taxation of financial income that is familiar to and draws the significant interest of the public; and the enhancement of the tax environment to facilitate smooth and fair payment. Upon receiving the report, Prime Minister Abe said, "I would like to thank you cordially for your intensive deliberation on the issues, despite the very demanding schedule. Under the principle that 'there can be no fiscal consolidation without growth,' the members of the Commission have been discussing the tax system with primary focus on the goal of vitalizing the economy. The members compiled the report paying due consideration to consistency with the overall picture of comprehensive tax reform. I would like to use this policy as our guideline in advancing the tax system revision."
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