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Abe Aide Honda Advocates 29% Japan Corporate Tax to Stoke Growth

Commercial Buildings in Tokyo
Commercial buildings are seen from the observatory of the Tokyo Metropolitan City Hall in the Shinjuku district of Tokyo. Japan’s corporate tax rate is among the highest in major developed economies, according to the Paris-based Organization for Economic Cooperation and Development. Photographer: Tomohiro Ohsumi/Bloomberg

Oct. 31 (Bloomberg) -- Japan should lower its effective corporate tax rate to Germany’s level, around 29%, to help bolster growth, according to one of Prime Minister Shinzo Abe’s top economic aides.

* “The effective rate should be lowered to the global

standard of advanced economies,” Etsuro Honda, 58, said in

an interview at the Prime Minister’s office in Tokyo

yesterday * Cut in the effective corporate tax rate, estimated by the

OECD at 37%, should be included in reforms Abe plans to help

revive the nation’s economy after two decades of stagnation,

according to Honda

For Related News and Information: Abenomics Confronts Legacy of 1960s Japan Labor Principles: Jobs NSN MOQ4EY6JTSEJ <GO> Abenomics Litmus Test Looms as Pressure Mounts on Tax Policy (2) NSN MSJ99F6JTSEY <GO> Japan’s top stories: TOP JN <GO> Global economy watch: GEW <GO>

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