Takaichi administration considering 1% tax on food from next April
A tax cut to 1% would require less time to update cash register systems and could be implemented sooner than her campaign pledge of zero percent.
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A tax cut to 1% would require less time to update cash register systems and could be implemented sooner than her campaign pledge of zero percent.
Asked if the cut would expire after two years even if the economy worsened, the prime minister said the measure is only "a bridge" until a refundable tax credit program is created.
The ruling party pledged during February's general election campaign to speed up discussions on suspending the tax on food for two years with a view to going ahead with it.
The growth reflected higher wages and corporate earnings, as well as a rise in the value of consumption amid inflation.
The plan has divided party members and raised concerns about its impact on financial markets.
The central government is eyeing introducing a refundable tax credit program following a stopgap measure of reducing the consumption tax rate on food to zero for two years.
It could lead to less confidence in Japan's fiscal state, a weaker yen, higher rates and slower economic growth.
食料品の消費税減税をめぐり超党派の「国民会議」の実務者会議で税率を来年4月から2年間、1%に引き下げたうえで、消費税率1%相当分の所得に連動した給付を行い、実質的に税率ゼロとするとした...
Finance Minister Satsuki Katayama's remarks were seen as part of stepped-up efforts to attract cash to domestic markets as the yen weakens.
The move to avoid the issuance of deficit-covering bonds follows a policy that Prime Minister Sanae Takaichi has consistently emphasized.
Sanae Takaichi pledged to suspend an 8% levy on food sales, but retailers say their systems aren’t designed for a tax of zero per centThe Japanese government has pledged to suspend...
チームみらが「社会保障国民会議 つなぎ施策シミュレーター」を公開した。
Japan’s Lower House reportedly passed a bill that would bring crypto under the country’s financial instruments framework, potentially opening the door to ETFs and lower tax treatme...
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