1.Taxation(Source: “Nihon Keizai Shimbun”)
The Government Tax Advisory Council is working with related parties to lower the corporate tax threshold used in determining tax-haven status, from the current 25% to just over 20%. The effective corporate tax rate in Japan is currently 40%, which is the highest among economically advanced nations.
2.Accounting(Source: “Keieizaimu Magazine”)
In 2009, the number of examinees who passed the Japanese CPA exam was 2,229 out of 21,255 applicants (pass rate for the exam was 10.5%). This is a decrease of nearly 1,500 from the previous year, when the number of passers was 3,625.
The Financial Services Agency (FSA) supervises the CPA exam in Japan. CPAs do not run the examination system independently from the FSA.
3.This Week’s Words of Wisdom (Source: “English words of wisdom to enrich life”)
“Only mediocrities rise to the top in a system that won’t tolerate wave making.”
(Lawrence Peter, Canadian novelist)
This seems to be a universal phenomenon and not specific to a particular culture or era.
In Japan, there is a term called “flatfish-type executive”. In a large Japanese company, employees usually need talent to become a manager, but further promotion often depends on how well that person can win the favor of his/her boss. Therefore, an executive who was promoted by flattering his/her superior is likened to a flatfish that has eyes only on the upside.