Reduced tax rate for small and medium-sized businesses

The ruling party (LDP/Komeito) has put forward a proposal for tax reform. This proposal will not be finalized, so we need to keep an eye on future developments.

In the tax system for small and medium-sized businesses.

"Regarding the special corporate tax rate for small and medium-sized businesses, in business years in which the annual income exceeds 1 billion yen, the tax rate applied to annual income of 8 million yen or less will be raised to 17% (currently 15%)."