After struggling until late Friday night to come to an agreement with a Democratic Party of Japan tax panel, the government decided early Saturday on an outline of a set of tax changes for fiscal 2012, including a cut of 150 billion yen a year on levies for car owners.
The outline approved by the Cabinet is in preparation of the compilation of an initial state budget for the next fiscal year starting April 1. The Finance Ministry is scheduled to draft the budget by the end of the year.
The biggest difference in views in the talks between the government and the DPJ on the tax changes was over the party's proposal for abolishing the acquisition and weight taxes for vehicle owners. (Yomiuri)
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