OSAKA -- The Osaka Prefectural Assembly's General Affairs Committee gave its approval Thursday to a controversial bill to impose a 3 percent tax on the gross profits of large banks operating in the prefecture.
The bill is almost certain to be adopted by a plenary session Tuesday.
The new tax plan, which is modeled on the one introduced last month in Tokyo, calls for banks with 5 trillion yen or more in assets to be subject to a maximum 3 percent tax on their gross profits. If enacted, 26 banks will be affected by the new measure, which is expected to take effect next April.