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Japanisch > Englisch: translation of article from Nikkei Keizai Shimbun 12/30/2011 re pending 2012 tax reform General field: Wirtschaft/Finanzwesen Detailed field: Recht: Steuern und Zoll
Übersetzung - Englisch Comprehensive reform: Government draft finalized. Bill to be submitted by the end of March. Consumption tax rises to 8% in April 2014 and 10% in October 2015.
2011/12/30 20:37
On December 30, the government publicized an overview of its social security and general reform bill that includes a cornerstone increase in the consumption tax. On the same day, the government’s tax research counsel adopted its draft tax reform plan to increase the consumption tax rate to 8% in April 2014 and to 10% in October 2015. The 5 cabinet ministers with authority over social welfare reform and the finance minister, Jun Azumi, approved the social welfare reform bill. The government and the ruling party will formally decide on the main terms of social security welfare reform when the new term begins in January of the coming year. Following minority and majority party consultation, the bill related to increasing the consumption tax is heading to an ordinary session of the Diet and should be introduced no later than the end of March.
Among the comprehensive reform bills, the provisions of the social welfare reform bill were finalized in mid-December. On the issue of tax reform, the Japanese Democratic Party’s tax research council agreed on the 29th to raise the consumption tax rate in two steps. On December 30, the board of the Japanese Democratic Party’s policy research council accepted this decision and formally approved the tax reform bill. Given that government tax review is pinned down under the Japanese Democratic Party’s control, the tax reform bill has all but been adopted.
The government’s bill views the social welfare insurance scheme as “national community property” and identifies the increase in the consumption tax as necessary to cover the continued increase in expenditures. It hammers out a policy that seeks to address the stable financing of welfare insurance while simultaneously restoring public finances to health. In doing so, it seeks to respond to changes in social conditions caused by globalization and widening gaps in income.
Fundamentally, it increases the burden on higher income individuals in order to offset the increasing burdens lower income individuals sense because of the consumption tax. Beginning on January 1, 2015 taxes will be expanded when the income tax rate on taxable income over 50,000,000 yen will increase to 45% and the number of deductions available on the estate tax will be reduced. Beginning in January 2014, the tax rate on financial earnings will increase from 10 to 20%.
As for measures affecting low income groups, it is assumed that a common numbering system (a revised social security numbering system, e.g.) will be implemented in 2015 and a combined tax deduction and cash benefit “tax credit including benefits” system will be put into place. A reduction of the tax rate to food products and similar items, however, has been put on hold for the time being.
In order to strengthen international competitiveness, there will be continued reductions in the effective corporate tax rate of 5% that was adopted through the 2011 tax reform. The special and other taxes on regional entities will be rigorously reexamined.
To make the tax increases more acceptable to the public, the reforms have also included provisions that “target the heart” of government and public administrators. Initiatives in public service association reform will be pursued that include reducing the budget for the Diet to reflect the planned elimination of 80 seats and by cutting government administration costs.
The influence of the consumption tax increase on the economy was also carefully considered. Regulations were included in the bill that would allow a freezing of the increases if a need arises to respond to rapid changes in the financial markets or world economy following a “comprehensive consideration” of economic indicators such as the growth rate or the price of goods.
The government also committed to addressing the aging problem and decreasing birth rates in “the next reform” by increasing the consumption tax rate by one more level. Additional clauses have been included in related bills that will lead to further legislative measures in 5 years.
Outline of the government bill to comprehensively reform public welfare and taxation
■ Consumption Tax
Tax rate up to 8% in April 2014 and 10% in October 2015. Regional consumption tax rate of either 1.7% and 2.2%.
Decision to allow for a comprehensive freeze on taxes based on nominal and real growth rate indicators and economic conditions.
Introduction of tax credits connected with benefits in 2015 premised on the full implementation of the revised common numbering system. Until that time simple benefit measures. Postponement of reduced tax rate implementation for the time being.
■ Income tax & Estate tax
In January 2015 the income tax rate on taxable income over 50,000,000 yen will be increased from 40% to 45%.
The tax allowance on the estate tax will be reduced from 50,000,000 to 30,000,000 yen and the highest rate will be increased by 5 points to 55%.
■ Other Changes
The financial instruments tax rate will be adjusted in January 2014. The preferential treatment for listed shares will be abrogated and a 20% tax rate implemented. The aggregate profit loss amount will be expanded.
A reduction of corporate tax following an increase in the special reconstruction tax is under consideration.
■ Social welfare reform
Decreasing the burdens – Increasing the benefits.
Increasing the pension supplement for low income individuals.
Reducing the qualifying period from 25 years to 10 years.
Expanding social retirement benefits and company health insurance to include part time workers.
Reducing barriers for individuals afflicted with serious illness.
Reducing the nursing insurance and national pension insurance rates for low income individuals.
Expanding the pre-school and kindergarten with an eye toward combining into one program.
Decreasing the burdens – Increasing the benefits
Reducing pension amounts to reflect reductions in the price of goods.
Base pension for high income individuals reduced by up to one half.
■ Administrative reform
Early introduction of a bill to eliminate 80 seats in the lower house.
Early introduction of a bill to implement administrative structural reform (tentative name).
Plan to rapidly approve a special salary exemption bill and a bill related to the system for public employees in the Diet.
Persisch (Farsi) > Englisch: Translation of December 29 2011 article in Etelaat, p. 2, col. 6. General field: Geistes- und Sozialwissenschaften Detailed field: Staatswesen/Politik
Ausgangstext - Persisch (Farsi) آیت الله العظمی مکرم: ۹۹ در صد مردم فقیر آمریکا در اختیار اقلیب یک در صدی هستند
قم - آیت الله العظمی ناصر مکارم شیرازی از مراجع تقلید گفتند: باسوادان کشورهای غربی بیشتر در خدمت اقلیت سرمایه دار هستند.
به گزارش ایرنا، ایشان دیروز در آغاز درس خارج فقه خود در مسجد اعظم قم با اشاره به اعتراضات اخیر در کشور آمریکا و جنبش وال استریت اظهار داشتند: متاسفانه همه باسوادهای آمریکا بدون اعتنا به ۹۹ در صد فقیر، در اختیار اقلیت یک درصدی هستند و به واسطه همراهی با اقلیت سرمایه دار، شیره جان آن ۹۹ در صد را گرفته اند.
این مرجع تقلید با اشاره به ششم دی ماه و فرمان تاریخی حضرت امام(ره) در سال ۵۸ مبنی بر مبارزه بابی سوادی و تاکید دائم ایشان بر همراه بودن تعلیم و تهذیب، اظهار داشتند: صدور این فرمان توسط امام راحل در ابتدای انقلاب و زمانی که تازه انقلاب به ثمره رسیده بود، بیانگیر آن است که انقلاب اسلامی طرفدار علم و آدم با سواداست.
ایشان با اشاره به نهضت مبارزه بابی سوادی تصریج کردند: بی سوادی در این مدت خیلی کم شده است ولی هنوز شماری ولی هنوز شماری بی سوادی و جود دارد که برای وهم بی سوادها برای بر طرف کردن این مشکل، هم باسوادها باید همت کنند و سراغ بی سوادها بروند و هم بی سوادها برای باسواد شدن از خود همت نشان دهند.
ایشان در بخش دیگران از سخنان خود با اشاره به اهمیت و ضرورت داشتن ایمان اظهار داشتند: اگر تمامی افکار عمومی دنیا مقابل ما بسیج شده باشد و محدودیت ها و تحریم علیه ما اعمال شود، بی شک تکیه ما به خدا و ایمان به او، آنها را بی اثر خواهد کرد.
Übersetzung - Englisch Grand Ayatollah Mokaram: 99 percent of the poor in America are subject to the power of a one percent minority.
Qom: Grand Ayatollah Naser Mokaram Shirazi stated during his public lecture on religious jurisprudence: In the West, a greater number of educated individuals serve a minority of capitalists.
According to IRNA, during yesterday’s public lecture on religious law in the Grand Mosque of Qom, the Grand Ayatollah referred to the recent demonstrations in the United States and the Wall Street movement and stated: Unfortunately educated persons in America ignore the 99 percent who are poor. They are at the beck and call of the one percent and, as a result of having to support the capitalists, they have sucked the life out of the 99 percent.
He based his public lecture on religious jurisprudence on Imam Khomeini’s historical religious edict of December 28, 1979 relating to the struggle against ignorance and the Imam’s constant emphasis on supporting instruction and moral edification; and stated further: This religious edict was issued by Imam Khomeini at the beginning of the revolution; at a time when the revolution had just reached its peak. It is a proclamation of the fact that the Islamic Revolution supports learning and educated men.
Referring to the movement to fight ignorance, he emphasized: In recent times ignorance has almost disappeared but there still are some who are ignorant. To put an end to this problem the educated must make an effort to seek out the ignorant and the ignorant must make a greater effort to educate themselves.
At another point in his talk, he referred to the importance and need to have faith: Even if the public opinion of the entire world is mobilized against us and the restrictions and boycotts against us are actually put into force, I have no doubt that our reliance on God and our faith in Him will render those restrictions and boycotts ineffective.
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Master's degree - University of Pennsylvania
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Übersetzungserfahrung in Jahren: 17. Angemeldet bei ProZ.com seit: Dec 2011.
Assisting law firms with foreign language document summarization, litigation and deposition preparation, review and classification of documents.
Degrees in Law, Finance and Accounting, Public Administration, Politics, and Public Finance.
Available for on-site translation and interpretation in due diligence and litigation preparation environments.
Available for deposition and witness preparation.
Available for document reviews, text analysis, database review and preparation.
Available for data input and language processing.
Licensed Attorney. Practice in New Jersey, New York and Connecticut.
Austrian and United States Native. Lived and worked in Europe, the Far East, and North and South America.
Contracts and transactional documentation.
Real estate purchase and sale.
Securitizations and structured finance.
Mergers and acquisitions and due diligence.
Areas of interest:
TAX AND TAXATION AND COMMERCIAL TRANSACTIONS: Deals, M&A, Due Diligence, Case analysis and evaluation, Commercial agreements and contract drafting and review.
SECURITIZATION: Barriers: Barriers to Discipline - Barriers to Regulation - Hedging: Derivatives & Derivatives Markets - Default Risk and Fiduciary Duties - Strategic Hedging
FINANCE: Growth: Debt-Equity Mix - Portfolio Diversification - Operational Risk and Forgiveness in Bankruptcy - Islamic Finance
ASSET POOLING AND INFRASTRUCTURE FINANCE: Self-replenishing funds and entrepreneurship - Revolving funds and operational structureCOMPARATIVE POLITICS: Bureaucracies - Classification - Comparative Critiques
LAND USE: Zoning: Property Ownership - Captive Pricing
SUPPLY CHAIN MANAGEMENT: Logistics: JIT - Strategic Management through Value Norms
Schlüsselwörter: I assist law firms in reviewing, summarizing, analyzing, and classifying information in foreign languages (German, Japanese, French, Farsi, Spanish, Portuguese, Arabic).
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