Japan tax plan seen more harmful than good for steel

Oct 03, 2013 | 10:30 AM |

Tags  Japan tax strategy, steel, Nippon Steel & Sumikin Stainless Steel, NSSC, steelmakers, stainless steel

TOKYO — The Japanese government’s latest announcement that it would raise the consumption tax rate but cut corporate taxes will be more harmful than beneficial to many steelmakers, one executive said.

"There has been a lot of talk for many years in Japan about the need to lower the corporate tax rate to bring it in line with international levels," an executive from Nippon Steel & Sumikin Stainless Steel Corp. (NSSC) told AMM sister publication Steel First.....

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