It was the first time that Aso expressed acceptance of implementing corporate tax cuts, although he had argued the tax change would hamper the government's attempt to restore
"It's OK (to cut the corporate tax rate) if stable financial resources are found," Aso said at a press conference.
His remarks came before talks between Abe and
During the meeting, Abe, head of the LDP, is expected to urge Noda to allow the government to reduce
Noda, meanwhile, is set to ask Abe's administration to continue pursuing its goal of turning the primary balance -- annual tax and nontax revenues minus outlays other than debt-servicing costs -- into a surplus by fiscal 2020.
To help stabilize tax revenues, Noda is also likely to call on Abe to expand corporate taxation based on "external standards," such as the payroll, capital and other measures to scale operations, as it covers both profit-making and loss-making companies.
Currently only around 30 percent of Japanese companies pay corporate taxes with the rest exempt due to poor business performances.
Abe has reiterated corporate tax cuts are necessary to boost foreign investment in
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