Japan finance minister doubts effectiveness of a corporate tax cut

McKinsey consultant Krstic to be Serbian finance minister

Credit: Reuters/Yuya Shino By Tetsushi Kajimoto and Leika Kihara TOKYO | Thu Aug 15, 2013 12:00am EDT TOKYO (Reuters) – Cutting Japan’s corporate tax rate would not have a immediate impact, the finance minister said as he suggested tax breaks for capital expenditure as one way to spark business investment which has so far lagged in an emerging economic recovery Prime Minister Shinzo Abe is nearing a decision on whether to go ahead with a planned doubling of the sales tax rate, which is intended to help contain public debt that has already exceeded 1,000 trillion yen ($10 trillion). There are concerns the two-stage hike from next April could stifle the economy just as it is picking up, and there have been calls for offsetting measures such as a cut in corporate taxes. “Given that only some 30 percent of firms pay corporate taxes, I don’t think lowering corporate tax rates would have an immediate impact,” Finance Minister Taro Aso told a news conference after a cabinet meeting on Thursday. There were reports this week that Abe was considering a corporate tax cut as a trade-off to ensure support for the sales tax increase.

Listing will improve our transparency and help us get capital for expansion, Nagahara said. If the market improves, with better price-to-valuation, Id like UA Finance to list on Hong Kongs main board. The company has no listing plans for now, he said. China is boosting lending to smaller entrepreneurs to bolster economic growth, creating opportunities for companies like UA Finance, which ran 94 mainland China outlets as of the end of June. The 22-year-old company seeks to add 30 to 40 outlets each year to offer unsecured lending to small and medium-sized companies and individuals, Nagahara said. To contact the reporter on this story: Stephanie Tong in Hong Kong at stong17@bloomberg.net To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net United Asia Finance CEO Akihiro Nagahara Jerome Favre/Bloomberg Akihiro Nagahara, chief executive officer of United Asia Finance Ltd., reacts during an interview in Hong Kong on Aug.

Marissa Mayer, Please Don’t Screw Up Yahoo! Finance

Fuel, that other debilitating burden on the current account, is also price inelastic because public policy has not been able to crank up domestic output enough to let us believe that the Finance Ministers efforts at reducing imports will succeed. Equally, its demand is also insensitive to price hikes because of the ease with which escalations can be passed on to the consumer. The poor do not matter, the rich dont care and like them the middle classes are in love with the automobile. So long as economic growth is identified with consumption of goods that make our lives so much more stressful think of those traffic snarls and the pall of poisonous smoke even in small towns with big-city attitudes and the money to showcase them the pressure on imports will not be tempered with customs duties.

The loneliness of being a Finance Minister

The loneliness of being a Finance Minister (© PTI)

I’d love to see a Yahoo! Finance app that looks like Yahoo! Weather, which was released for Apple’s ( AAPL ) iOS first, then came to Google’s ( GOOG ) Android only recently. Yahoo!

United Asia Finance May Seek Hong Kong IPO If Valuations Improve

“Krstic has agreed to take the post, he also presented his plans to Vucic,” the source said without elaborating further. Serbia’s state-run RTS TV also quoted Vucic’s advisor Sinisa Mali as saying: “Krstic will be new finance minister as of August 26.” Parliament is expected to confirm the appointment of Krstic and at least three new ministers at a session on August 26, when Prime Minister Ivica Dacic is scheduled to present his new cabinet line-up. Mladjan Dinkic was sacked as finance minister last month, along with at least three other ministers, to avert a snap election. Dacic, a Socialist, had threatened to bring down the coalition government unless Dinkic was replaced and his small United Regions party was ejected from the alliance.


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