Japan Mulls Delaying Tax Payments for Firms, LDP’s Amari Says

Japan will consider delaying corporate tax payments as a means for companies to cope with the virus outbreak, Akira Amari, tax chief of the ruling Liberal Democratic Party, said on Fuji TV.

Japan’s real gross domestic product could drop by more than the 5.4% decline during the global financial crisis, Amari said. He said GDP may shrink by more than 6% on an annual basis.

Japan may give out cash to people depending on how the situation develops, but Prime Minister Shinzo Abe is not likely to lower the consumption tax, he said.

Amari also said various possibilities are being considered for the Tokyo Olympics, and while delaying is an option, canceling it isn’t.

To contact the reporters on this story:
Min Jeong Lee in Tokyo at mlee754@bloomberg.net;
Grace Huang in Tokyo at xhuang66@bloomberg.net

To contact the editors responsible for this story:
Shamim Adam at sadam2@bloomberg.net

Stanley James

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