Japan Cuts Taxes To Promote Employment and Salary Increases

December 13, 2010

Japan to cut corporate tax to stimulate economy
Mari Yamaguchi

Japan's government announced it would cut the country's hefty corporate tax rate by 5 percentage points, in a bid to stimulate the economy and help Japanese businesses stay competitive.

The step announced late Monday is aimed at promoting investment, employment and salary increases at home so that Japan can exit deflation, Prime Minister Naoto Kan said.

"I decided to take a bold step," he told reporters.

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