Research Catalog

Title

Reforming the Tax System in Japan to Promote Fiscal Sustainability and Economic Growth [electronic resource] / Randall Jones and Masahiko Tsutsumi

Author

Jones, Randall.

Publication

Paris : OECD Publishing, 2008.

Details

Additional Authors

Tsutsumi, Masahiko.

Description

47 p.; 21 x 29.7cm.

Summary

Tax reform is an urgent priority, as Japan needs as much as 5% to 6% of GDP of additional government revenue just to stabilise public debt, which has risen to 180% of GDP. In addition to raising revenue, tax reform should promote economic growth, address the deterioration in income distribution and improve the local tax system. Additional revenue should be obtained primarily by increasing the consumption tax rate, currently the lowest in the OECD area, while broadening the personal and corporate income tax bases. The corporate tax rate, now the highest in the OECD area, should be cut to promote growth, while eliminating aspects of the tax system which discourage labour supply and distort the allocation of capital. Japan should also consider introducing an Earned Income Tax Credit to promote equity. The local tax system should be simplified, increasing reliance on existing taxes on property, income and consumption.

Series Statement

OECD Economics Department Working Papers, 1815-1973 ; no.650

Uniform Title

OECD Economics Department Working Papers, no.650.

Subject

• Economics
• Japan

LCCN

10.1787/230312273167

OCLC

oecd-lib-001894

Author

Jones, Randall.

Title

Reforming the Tax System in Japan to Promote Fiscal Sustainability and Economic Growth [electronic resource] / Randall Jones and Masahiko Tsutsumi

Imprint

Paris : OECD Publishing, 2008.

Series

OECD Economics Department Working Papers, 1815-1973 ; no.650

OECD Economics Department Working Papers, 1815-1973 ; no.650.

Connect to:

http://dx.doi.org/10.1787/230312273167

Indexed Term

Economics

Japan

Added Author

Tsutsumi, Masahiko.

Other Standard Identifier

10.1787/230312273167 doi