Tax-reduction government bonds - Genzeikokusai

Japanese: 減税国債 - げんぜいこくさい

This refers to government bonds that come with the benefit of tax reductions. Since the Dodge Line of March 1949, Japan's finances have been balanced, but in fiscal 1953, special tax reduction bonds were issued against the backdrop of rising national savings levels and strong demands for tax cuts from corporations and individuals. The conditions for issuance were a low annual interest rate of 4%, but in order to absorb private funds, taxes were reduced by a certain percentage of the application amount for individuals and corporations that applied (25% for individuals, 21% for corporations). The planned amount to be issued was 20 billion yen, but the actual amount issued was only 14.2 billion yen.

Source: Heibonsha World Encyclopedia, 2nd Edition Information

Japanese:

減税の特典のついた国債をいう。1949年3月のドッジ･ライン以降，日本の財政は収支均衡主義がとられてきたが，53年度に至り，国民貯蓄水準の上昇と，法人と個人からの強い減税要求を背景に特別減税国債が発行された。発行条件は年利率4％と低率であったが，民間資金の吸収を図るため，応募した個人･法人に対して応募額の一定割合(個人25％，法人21％)の税の軽減措置を講じた。発行予定額は200億円であったが，実績は142億円にとどまった。

出典　株式会社平凡社世界大百科事典第２版について　情報

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