The Democratic Party of Japan (DPJ), in its election manifesto, has outlined tax policies aimed at benefiting consumers and small businesses suffering the worst recession since the Second World War. The DPJ is currently leading the polls and looks set to unseat the present government in elections on August 30, ending the Liberal Democratic Party’s dominant rule since 1955.
The DPJ has pledged to cut sales tax on automobiles, provide a monthly JPY26,000 (USD273) tax allowance for children under the age of 16, abolish road tolls and reduce fuel tax, and give tax breaks to people buying homes in cash. The corporation tax burden of small to medium-sized businesses will also be reduced. However, the party has pledged to impose a tax on tobacco in a concerted effort to discourage smoking. Statistics compiled by the Japan Health Promotion and Fitness Foundation for 2008 show that around 40% of men and around 13% of women are smokers. The party also plans to abolish or revise individual tax deductions.
The 5% consumption tax will not be raised for the first four years of a DPJ government.
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