The Tax Commission’s Sub－Committee on Fundamental Issues met on May 13th 2003.
| The Tax Commission’s Sub－Committee on Fundamental Issues met on May 13th 2003. |
1. | Presentations were made on the subject of study trips made to the United States and Canada (by Professor Ishi, Chair of the Sub-Committee) and Sweden and Denmark (by Professor Okuno). Regarding the study trip to the U.S and Canada, the main points of note were: | |
| > | An explanation of the relationship between the tax systems and social security systems | |
| > | The systems of taxpayer identification numbers | |
| > | President Bush’s proposed elimination of double taxation on dividends through exempting individuals from taxation on received dividends | |
| > | The Canadian GST (Goods and Services Tax) system | |
Regarding the study trip to Denmark and Sweden, the main points of note were: | ||
| > | The relationship between the tax system’s deductions and allowances and the social security system’s benefits | |
| > | The relationship between the pension system and taxation | |
| > | The definition and evaluation of dual income tax | |
2. | Personnel of the Ministry of Health, Labour and Welfare made a presentation on the current conditions of the social security system and issues to be considered. This was followed by questions by members of the Sub-Committee. The main points of the presentation were as follows: | |
| > | The necessity of making changes to the balance of costs and benefits in the social security system now, so as to ensure the system’s continuing role in providing for a comfortable standard of living for the Japanese people and the development of society and the economy | |
| > | The need to increase social security contributions, so as to cover the increasing demand for benefits brought about by an aging society | |
| > | So as not to impede the vitality of society and the economy, to not overburden any particular generation and to make benefits more efficient, it is necessary to increase the burden with the utmost restraint | |
| > | As part of the total reform of the social security system, it will be necessary to examine the relationship between the taxation system and the social security system （for example public pension deductions, etc） | |
3. | The next meeting of the Sub-Committee will be held on May 16th 2003. | |
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Records (in Japanese) of the meetings of the Tax Commission and its Sub－Committees can be found at http://www.mof.go.jp/jouhou/syuzei/sy012.htm Further details of the fiscal year 2003 tax reforms can be found in English at | ||
