The ruling coalition finalized its tax revision proposals Thursday for fiscal 2007, focusing on breaks for companies in a bid to accelerate capital investment and postponing discussion of the sensitive issue of a consumption levy hike until after next fall.
The proposals compiled by the Liberal Democratic Party and New Komeito are in line with Prime Minister Shinzo Abe's goal of speeding economic growth.
"We will work to drastically reform taxes, including the consumption tax," which will be debated after next fall, the report says, indicating the hike will be considered next December when the parties discuss tax revisions for fiscal 2008.