Japan calls for corporate tax increase amid leadership race

Shigeru Ishiba, a former Japanese defense minister and top contender in the ruling party’s leadership race, suggested that corporate taxes could be increased, according to Kyodo News.

He stated, during an election-related webcast, that some companies are capable of shouldering a higher tax burden and expressed his desire for them to contribute more.

Shinjiro Koizumi, a leading candidate in the Liberal Democratic Party’s leadership race and former Japanese environment minister, has proposed implementing a carbon tax.

Koizumi warned that without a carbon tax, trade with Europe could face new taxes. Sanae Takaichi, another LDP leadership candidate, stated she would resist tax increases for the next few years.

“We should not raise taxes at all until we see a move towards price stability target, where demand exceeds supply,” Kyodo quoted her as saying.

Attribution: Reuters

Subediting: M. S. Salama