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.:: 26.09.2013

The yen and taxes

The yen finished a four-day growth against the dollar on the background of stabilization of the Japanese stock market and conversations about the planned discussion on the reduction of the corporate income tax. According to unofficial sources, the Japanese government plans to pledge to promptly start a study on reducing the corporate income tax. The news provoked the fall of the yen against the sixteen major currencies.

Currency market analysts say, that the yen’s correlation to the equity market is increasing, i.e., if the shares rise, the yen falls. It is expected that on the first of October the Prime Minister of Japan, Shinzo Abe will announce the program of economic incentives. Around the same time the issue to raise the sales tax in the country will be resolved. This was told today by Takeshi Noda, head of the Liberal Democratic Party's tax commission.

According to forex.lv

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