Top > What's up around the Prime Minister > November, 2004

Prime Minister Receives a Report of the Tax Commission Thursday, November 25, 2004 Prime Minister Junichiro Koizumi received a report on FY2005 tax system revisions from Mr. Hiromitsu Ishi, the Chair of the Government Tax Commission at the Prime Minister's Official Residence. The report on tax system revisions for the coming fiscal year stated that construction of a public sector sustainable throughout the 21st century is most vital when considering the current critical financial situation as we enter an unprecedented era of changes, such as a society of decreasing population. As such, the report claims that it is vital to promote fiscal structural reform both in terms of expenditure and revenue, the reform package of the three issues which reviews the modality of tax and fiscal administration of the central and local governments, as well as the comprehensive reform of the social security system. Based on such recognition, the report further incorporates challenges for individual tax items such as treatment of fixed tax reduction on individual income tax, level of consumption tax and appropriateness of introducing an environment tax.