Japan's parliament passes Abe's plan for corporate tax cut

Japan's parliament passes Abe's plan for corporate tax cut-chicagotribune: Lawmakers in Japan voted to green-light a corporate tax cut plan championed by Japanese Prime Minister Shinzo Abe. Under the legislation, the corporate rate will be cut by 3.29 percentage points over two years. The current effective rate for corporations is about 35 percent and Abe has vowed to continue lowering the rate over the next five years.