Groundhog Day: Japan's tax reluctance signals cold spring

Article Abstract:

The Japanese government has not yet been able to make a commitment to reduce the tax burden. Indeed, it seems very unwilling to give up its power to use taxes to manipulate the economy. This stance is the main reason why the Japanese economy has failed to respond to government spending packages worth more than Y60 trillion. The government continues to have a very negative view of tax relief, regarding it as being a measure that should only be used on special occasions. The arbitrariness of the government's approach to taxes has had a number of negative repercussions.

Fiscal Policy, Economic policy

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Shot in the arm

Article Abstract:

The Indian government's Voluntary Disclosure of Income Scheme, which came to an end on Dec 31, 1997, proved very successful in bringing in unpaid taxes. Official figures indicate that the scheme will have raised $2.6 billion for the exchequer, compared with original estimates of $1.5 billion. The additional funds could assist the Indian government in meeting its fiscal deficit target of 4.5% of GDP for the financial year to Mar 31, 1998. Some observers believe that there are still serious problems with India's tax system.

Tax Evasion & Penalties, India, Tax evasion, Tax penalties

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The tax man returneth

Article Abstract:

Japan's Liberal Democratic Party remains firm in its conviction that taxes are too low, even though this stance does not help to make it popular with ordinary people. It now plans to raise the consumption tax from 3% to 5% from Apr 1997. The government seems unaware that governments do not usually bring in the additional finance they expect from raising taxes, and is ignoring calls from leading companies for a cut in corporation tax rates, which are among the most punishing in the world.

Tax Rates, Liberal Democratic Party (Japan)

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