Ruling camp unveils tax reform outlines featuring tax hikes

Ruling camp unveils tax reform outlines featuring tax hikes

TOKYO, Japan - Yuji Shimazu, chairman of the Liberal Democratic Party Tax Research Council, addresses the panel's general meeting at the LDP headquarters in Tokyo on Dec. 15. Later the ruling coalition involving the new Komeito party unveiled its tax reform outlines for fiscal 2005 featuring the halving of the 1999 fixed-rate income tax cuts at the national and local levels, a move that would increase the taxpayer burden by as much as 145,000 yen a year.

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