The House of Representatives approved a bill Friday for tax reform in fiscal 2013 that will include lower levies to help boost private-sector investment.
The lower house, dominated by Prime Minister Shinzo Abe’s ruling coalition, voted for the plan for the year starting April 1. The government hopes the bill will be passed by the opposition-controlled House of Councillors within the month.
The annual reform will center on reducing corporate tax by a certain amount when a company increases payrolls or spends on introducing facilities or equipment designed to save energy consumption.
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