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Japan Studying How To Cushion Sales Tax Hike Impact

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

17 April 2018


Japan's Chief Cabinet Secretary, Yoshihide Suga, has announced a task force will be set up to consider ways to mitigate the negative impact of the planned 2019 consumption tax rise.

The task force will consider the 2014 consumption tax rise, which many consider pushed the country into recession. The task force will also study how European states have managed economic fluctuations associated with VAT rate increases, including consumers bringing forward expenditure prior to the tax rises.

Suga said the task force will comprise officials from relevant ministries.

Japan's consumption tax is scheduled to increase to 10 percent, from eight percent currently, on October 1, 2019.

TAGS: tax | value added tax (VAT) | tax rates | tax reform | Japan | Europe

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