"Likewise, it is important for the Government to study carefully the direction taken by the proposed increase, At present, the moneyed class is the principal object, but the increase must be extended to the larger field of people with small incomes.
"The present law places a heavy tax on corporations and wealthy persons have double or treble levies.
Private incomes are also heavily taxed. The minimum income subject to taxation at present is now too high. It must be lowered," he said.
Referring to stricter control over business, Baron Goh declared that the Government had not been intelligent in its endeavours in the past.
"I am absolutely opposed to measures which radically change the existing economic structure," he added.
In conclusion, Baron Goh said:
"There is another important matter on which I want to warn financiers and businessmen. That is the treatment of soldiers returning from the front. This is an important but difficult problem which the Government is now studying. Demobilization is a delicate affair, which affects many other—points, "thought problem. principle will be confined to a minimum.
7. The land, capital interest and business profit taxes are not likely to be increased, but mo decision has been reached on the tax on the capital of "juridical persons."
8. Reductions of the present Y.1,200 exemption limit for assessment of the third-class income tax to rebably ¥.1,000.
This measure, however, is likely to be postponed, as its enforcement would realize probably no more than Y.3,000,000 at the cost of widespread social effects.
As soon as drafting of the tex programme has been completed by the Finance Ministry, the project will be transferred for further study to the Taxation System Inquiry Com: end only after approval by tha sion will it be presented to the Diet,—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.