Osaka prefectural assembly passes bill to tax big banks

OSAKA, Japan - The Osaka prefectural government joins the Tokyo metropolitan government on May 30 to impose a new local tax on major financial institutions, as the assembly of Japan's second most populous prefecture approves legislation at its plenary session. The Osaka prefectural assembly passed the ordinance in a majority vote by members of the Liberal Democrats Party (LDP), the Japanese Communist Party, the Social Democratic Party and some other groups.

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