Japan to Lower Corporate Tax to below 30 Pct: Minister

Tokyo, May 1 (Jiji Press)--The Japanese government aims to lower the country's effective corporate tax rate to below 30 pct, Economic and Fiscal Policy Minister Akira Amari said. "It would be a strong message to the market if the corporate tax rate is cut to at least below 30 pct," Amari said on television Wednesday night. The effective corporate tax rate, a combination of national and local taxes, stood at 35.64 pct in Tokyo in fiscal 2014 that started in April. A reduction in the tax rate will be a key part of the Japanese government's new growth strategy to be compiled in June. If the corporate tax rate is low, investment in Japan is expected to increase, Amari said, adding that active investment will promote the country's economic growth and increase tax revenues. END