Japanese Finance Minister Masajuro Shiokawa announced on Friday that as part of wide-ranging tax reforms due to come under discussion next month, he is considering raising indirect taxes, such as consumer taxes, and cutting those levied directly on incomes.
'Rebalancing the weight of direct and indirect (taxes) is going to be the major theme,' he told reporters last week. 'I think we can put a little more weight on indirect taxes.'
However, Mr Shiokawa revealed that a thorough review of taxes on assets would have to be conducted before the issue of indirect tax hikes can be seriously considered.
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