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LDP to discontinue corporate tax cut for solar power generation

  • 2015-11-30 15:00:00
  • , Nikkei
  • Translation

(Nikkei: November 30, 2015 – p. 3)

 

 The Liberal Democratic Party Policy Research Council decided on a policy of discontinuing the corporate tax cut, which is applied when companies build solar power generation panels for the purpose of selling electricity, at the end of this fiscal year [next March]. The LDP has decided to end this tax system because solar power generation has increased above the anticipated level. The corporate tax cut for companies that increase the number of their employees will be limited to regular employees. The golf course utilization tax will be maintained. As measures for the tax incentives have been almost decided, the LDP and Komeito will concentrate on consultations on reduced tax rates and other issues with an eye on the compilation of the budget for fiscal 2016 and tax system reform with a target of Dec. 10. (Abridged)

 

 Items on which a decision has been made

 

To be revised

Not to be revised

Reduction of effective corporate tax rate to the 29% level in next fiscal year.

Reduction in inheritance tax’s stock evaluation

Discontinuation of tax cuts for companies to build solar power panels for selling electricity

Abolition of golf course utilization tax

Expansion of the duty-free shop system regarding the consumption tax

Decrease of income tax of households purchasing over-the-counter drugs

Tax breaks for renovation of homes were three generations live together

Exclusion from taxation for charges for medicines for infertility treatment

Continuation of tax cuts for JR Kyushu even after listing

Extension of property tax reduction for newly built houses

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