Finance Minister Shunichi Suzuki said Saturday that he welcomes the global deal to set an international minimum corporate tax rate of 15%.
"I strongly welcome the historic agreement that has been reached," Suzuki said Saturday.
The application of the minimum corporate tax rate could increase the burden on Japanese companies that have expanded into Southeast Asia and other regions to enjoy tax benefits.
The introduction of global taxation of information technology giants -- another pillar of the new rules -- is likely to affect Japanese companies such as Toyota Motor Corp. and Sony Group. Yet the impact is expected to be limited, given that the new rules ensure companies are not subject to double-taxation as long as they properly pay taxes in each country.
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