The ruling Liberal Democratic Party (LDP) has decided to retain key senior officials of its Research Commission on the Tax System, including Chairman Yoichi Miyazawa. The LDP will make a formal decision in late August. The commission will focus on reform of the income tax system in full-fledged discussions on tax system reform for fiscal 2017 to be held this autumn or later. The present senior commission members have accepted Prime Minister Shinzo Abe’s decision to postpone the consumption tax hike and his other proposals. With Miyazawa continuing to serve as chairman, discussion on the tax system will likely continue under the leadership of the Prime Minister’s Office [Kantei].
The LDP will finalize its plan in a meeting of its General Council to be held in late August. (Abridged)