Japan PM Abe: Will further work on corporate tax reform

TOKYO Tue Apr 8, 2014 10:20pm EDT

Japan's Prime Minister Shinzo Abe speaks during a news conference at his official residence in Tokyo March 20, 2014, after Japan's parliament enacted a budget for fiscal 2014. REUTERS/Yuya Shino

Japan's Prime Minister Shinzo Abe speaks during a news conference at his official residence in Tokyo March 20, 2014, after Japan's parliament enacted a budget for fiscal 2014.

Credit: Reuters/Yuya Shino

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Wednesday that he will further work on corporate tax reform this year to make it internationally competitive.

Abe, speaking at a summit held by a business lobby, said he will mobilize all possible measures to accelerate reforms.

Japan's effective corporate tax, around 35.6 percent, is considered high compared with the global standard.

The government plans to compile new growth strategy in June to help boost the economic growth and beat a 15-year deflation.

(Reporting Sumio Ito; Writing by Kaori Kaneko; Editing by Dominic Lau)

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