It was revealed on Wednesday that the Japanese Government's Tax Commission is studying the ways in which an identification code could be assigned to each individual and corporate taxpayer.
According to reports, taxpayers would be required to present their ID code when conducting transactions with financial institutions, which would make it easier for the authorities to collect taxes, as financial transactions would be easier to keep track of and assess.
However, the proposed system has met with a fairly frosty reception, due to concerns over security and the possibilities of inappropriate dispersal of private information.
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