The Yomiuri ShimbunThe government and ruling parties plan to revise the tax system in a bid to provide a boost to the business restructuring of Japanese companies, The Yomiuri Shimbun has learned.
Under the current tax system, when a company separates its business divisions or subsidiaries and makes them fully independent, corporate income tax and other charges are imposed on the company as it is considered to have earned a profit by selling assets. The revisions being considered will remove this tax burden, aiming to encourage companies to flexibly reorganize their businesses and lead to the vitalization of the Japanese economy.
The revisions will be included in the ruling blocs outline for tax system revisions for fiscal 2017, which i…
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