The various Ministries finalized their proposals for the 2011 tax reform in August 2010. The proposals will be reviewed by the Tax Commission before submission to the Diet. If approved, the proposals will come into effect in April 2011 unless otherwise indicated.
The Economy, Trade and Industry Ministry proposes a reduction in the corporate tax rate from 30% to 25%.
Further, the Financial Service Agency (FSA) has made a few significant proposa…