"Present tax increases were planned to fall within limits that would not have adverse effects upon the economic potentialities of our country."
At a meeting today of a taxation reform committee of the House of Representatives, Mr. Hanjiro Oya, Director of the Bureau of Taxation of the Ministry of Finance, explained the relation of national income to allotments of revenue from taxation.
"The nation's income is approximately Y.25,500,000,000 and the total revenue from national taxes, local rates and Government monopolies under the present tax system amounts to Y.3,800,000000," Mr. Oya said.
"Revision of the taxation system, if enforced, will bring in Y.4,500,000,000, a sum representing 17 per cent. of the nation's income."—Domei.
Text read from the printed page and cleaned; old type leaves the occasional error.