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Japan Could Delay Sales Tax Hike

by Mary Swire, Tax-News.com, Hong Kong

09 October 2017


Japan could delay its planned sales tax increase if the economy continues to worsen, according to Chief Cabinet Secretary Yoshihide Suga.

Japan's present eight percent consumption tax rate was scheduled to increase to 10 percent in October 2015. After an initial delay, this was put forward to April 2017. In November 2016, the Government further decided that it should not take place until October 1, 2019, at the earliest, owing to concerns that economic growth could plummet again, as happened following earlier hikes.

Speaking at a news conference on October 6, Suga warned that economic conditions would have to be considered before implementing the two percent hike to the eight percent sales tax rate from 2019. He said the Government would consider employment rates, currency exchange rates, and the general state of the economy.

Japan is due to vote in a snap general election on October 22.

TAGS: tax | value added tax (VAT) | sales tax | currency | Japan

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