The head of Japan's Ministry of Economy, Trade and Industry has stated his intent to cut the country's corporate tax rate by 2.5% at some point during the fiscal year beginning 1 April 2015. Currently, Japan's effective corporate tax rate is 35.64% including local taxes and surtaxes.
Japan's Tax Commission recommended earlier in the year to set a goal of reaching an effective corporate tax rate of 25% with an initial reduction of 2% to 3% in 2015. The effective rate was reduced to 35.64% fro…