Law and Government
Japan ranks 20th of 183 countries in the Ease of Doing Business Index 2012.
Japan has one of the smallest tax rates in the developed world. After deductions, the majority of workers are free from personal income taxes. Value-added tax rate is only 5%, while corporate tax rates are high.
Shareholder activism is rare despite the fact that the corporate law gives shareholders strong powers over managers. Recently, more shareholders have stood up against managers.
The government's liabilities include the second largest public debt of any nation. Former Prime Minister Naoto Kan has called the situation 'urgent'.
Japan's central bank has the second largest foreign-exchange reserves after People's Republic of China.
Read more about this topic: Economy Of Japan
Famous quotes containing the words law and/or government:
“There is but one law for all, namely that law which governs all law, the law of our Creator, the law of humanity, justice, equity—the law of nature and of nations.”
—Edmund Burke (1729–1797)
“Her wrongs are ... indissolubly linked with all undefended woe, all helpless suffering, and the plenitude of her “rights” will mean the final triumph of all right over might, the supremacy of the moral forces of reason and justice and love in the government of the nation. God hasten the day.”
—Anna Julia Cooper (1859–1964)