Reversing his earlier stance, Finance Minister Masajuro Shiokawa said Wednesday that he plans to introduce a consolidated corporate taxation system as early as possible in fiscal 2002 and make it retroactive to the April 1 start of the term.
The consolidated taxation system, one of the pillars of the government's tax overhaul for fiscal 2002, is considered imperative for shoring up the competitiveness of Japanese companies.
Shiokawa earlier said that introducing the system in April 2002, the government's deadline, would be difficult due to technical problems and would be put off for a year.