In preparation for the revision of the tax system for the next fiscal year, the Liberal Democratic Party's Tax System Research Committee held a board meeting to exchange opinions on the revision of the external standard tax, which covers companies with capital exceeding 1 million yen.
The Liberal Democratic Party's Tax Policy Committee held a board meeting at the party headquarters on the 29th, attended by about 40 people, including Chairman Miyazawa, former Secretary-General Amari, and General Affairs Chairman Moriyama.
Opinions were exchanged on the government's proposal to expand the scope of the external standard tax, which covers companies with capital exceeding 1 million yen, to include companies whose capital has been reduced for the purpose of evading taxation, to include companies with capital savings exceeding 50 billion yen.
Attendees expressed the opinion that it was necessary to deal with companies evading taxation, while others pointed out that consideration should be given to preventing the impact on small and medium-sized enterprises, and it was decided to continue the discussion.
In addition, there was an opinion that the deduction for dependents of high school students due to the expansion of the child allowance should not be substantially increased by the revision.
In addition, with regard to tax cuts to encourage corporate investment, it was pointed out that raising the corporate tax rate over the medium to long term could increase the effects of tax cuts.
The Liberal Democratic Party (LDP) plans to hold discussions on the design of the income tax reduction system and other issues, and will decide on the ruling party's tax reform outline in mid-December.