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Xinhua Asia-Pacific news summary at 1000 GMT, Dec. 14

Xinhua,December 14, 2017 Adjust font size:

TOKYO -- Japan's ruling coalition on Thursday approved an income tax reform package for fiscal year 2018 (April 1, 2018-March 31, 2019) that will see income taxes raise for some salaried workers and corporate taxes cut for companies raising wages and increasing investments.

The Liberal Democratic Party (LDP) and its coalition partner Komeito party said the tax reform package will better suit the nation's modern working environment. (Japan-Tax Reform)

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SEOUL -- The South Korean Foreign Ministry said on Thursday that it was closely communicating with the United States on the Korean Peninsula issues.

Foreign Ministry spokesman Noh Kyu-duk told a press briefing that the South Korean government maintained close communications and cooperation with the U.S. side on the peninsula issues from the alliance perspective. (South Korea-U.S.-DPRK Dialogue)

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SEOUL -- South Korean prosecutors on Thursday demanded a 25-year jail term for Choi Soon-sil, a longtime confidante of ousted South Korean President Park Geun-hye, according to local media reports.

Independent counsel Park Young-soo and state prosecutors called on a Seoul court to sentence Choi to 25 years in prison and fine her 126.2 billion won (116 million U.S. dollars).

A whopping 18 charges were levied on Choi, including abuse of power and bribery. (South Korea-President's Confidante-Jail Term)

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MANILA -- The Philippine congress has ratified the first package of the Comprehensive Tax Reform Program (CTRP) envisioned by the Duterte's administration which seeks to correct a number of deficiencies in the tax system to make it simpler, fairer, and more efficient.

Finance Secretary Carlos Dominguez said on Thursday that the ratification of the Package 1 or Tax Reform for Acceleration and Inclusion Act (TRAIN) paves the way for Philippine President Rodrigo Duterte to sign the bill into law this month. The administration plans to implement the new law by January next year, he said. (Philippines-Tax Reform) Enditem

 

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