On 29 March 2013, the tax reform proposals for 2013 were passed as proposed by the Diet.
The main changes are as follows.
Corporate income tax
(a) Tax credit/special depreciation for production equipment
If a company's total acquisition price of production equipment for domestic business, acquired during fiscal years beginning from 1 April 2013 through 31 March 2015, exceeds the total of the following two items at the end of a fiscal year, the company may opt for …