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Kazuo Ibuki, president of the Federation of...

Kazuo Ibuki, president of the Federation of Bankers Assns. of Japan, said that financial transactions should be free from taxes under the planned new indirect tax plan because no other industrial countries have similar taxes.

A federation spokesman quoted Ibuki as saying that if loans are taxed, for example, no Japanese firms would be willing to borrow from banks, which could hinder the growth of Japan’s financial markets.


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