Jul 15, 2010
Japanese taxpayers could experience a significant increase to the national Sales Tax rate in the near future, after the International Monetary Fund called for fiscal reforms. Japan’s political climate has been turbulent recently following the Prime Minister’s Sales Tax rate hike proposal. Naoto Kan claimed that a doubling of the current 5 percent Sales Tax [...]
Japanese taxpayers could experience a significant increase to the national Sales Tax rate in the near future, after the International Monetary Fund called for fiscal reforms.
Japan’s political climate has been turbulent recently following the Prime Minister’s Sales Tax rate hike proposal. Naoto Kan claimed that a doubling of the current 5 percent Sales Tax rate would be an ideal step in addressing the nation’s ballooning debts, which have reached 218 percent of GDP. The tax issue was seen as a significant reason ... Read More
Jul 12, 2010
Japan’s ruling political party has suffered a major setback in its plan to instate tax hikes, after experiencing a defeat at the national Upper House elections. According to media exit-polls, the Democratic Party of Japan (DPJ) has won fewer than 50 seats of the contested 121 seats in the Upper House Government elections, held on [...]
Japan’s ruling political party has suffered a major setback in its plan to instate tax hikes, after experiencing a defeat at the national Upper House elections.
According to media exit-polls, the Democratic Party of Japan (DPJ) has won fewer than 50 seats of the contested 121 seats in the Upper House Government elections, held on June 11th. The result has been attributed to the party’s proposal of doubling the national sales tax rate to a level of 10 percent. The DPJ previously stated ... Read More
Jun 21, 2010
The Japanese Government is considering doubling the national Sales Tax rate, in order to curb the national public debt while retaining current levels of public services. Late last week Japanese Prime Minister Naoto Kan declared the need for the Japanese Government to carryout comprehensive reforms to the nation’s tax system and drastic cuts to public [...]
The Japanese Government is considering doubling the national Sales Tax rate, in order to curb the national public debt while retaining current levels of public services.
Late last week Japanese Prime Minister Naoto Kan declared the need for the Japanese Government to carryout comprehensive reforms to the nation's tax system and drastic cuts to public spending, and called opposition parliamentary members to join in supporting his proposal. Naoto Kan also revealed that he is willing to consider doubling the current 5 percent national ... Read More
Feb 15, 2010
To curb falls in investor confidence and possible national credit ratings downgrades, the Japanese Government will begin discussion on the feasibility of increasing several tax rates, including income, corporate and consumption taxes. Speaking at a press conference on February 13th, Naoto Kan, Finance Minister and Deputy Prime Minister of Japan, stated that he will be [...]
To curb falls in investor confidence and possible national credit ratings downgrades, the Japanese Government will begin discussion on the feasibility of increasing several tax rates, including income, corporate and consumption taxes.
Speaking at a press conference on February 13th, Naoto Kan, Finance Minister and Deputy Prime Minister of Japan, stated that he will be initiating a “full-fledged debate” on taxes in March, and hopes to have a concise tax reform plan completed by June. During the conference indications were given that income ... Read More
