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July 16, 2024
 

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CONSUMPTION TAX

BUSINESS / Economy
Dec 12, 2015
Ruling coalition clinches deal on food tax rate
The Liberal Democratic Party and Komeito finalized plans to apply a lower sales tax rate to food purchases, a measure that will cost u00a51 trillion in revenue.
BUSINESS
Dec 11, 2015
Government unlikely to detail revenue-recovery plan for sales tax hike exemptions: Aso
The government and ruling parties do not plan to specify ways to make up for a state revenue loss as a result of a lower tax rate on certain foods when the sales tax is hiked in 2017, Finance Minister Taro Aso indicated Friday.
JAPAN / Politics
Dec 11, 2015
Sales tax on food items to stay at 8% after 2-point 2017 increase, ruling bloc agrees
Japan's ruling parties broadly agreed Thursday to exempt food products from the planned consumption tax hike in 2017, lawmakers said, in an attempt to ease the burden on consumers as slow growth in household spending has weighed on the economy.
BUSINESS / Economy
Dec 10, 2015
Ruling parties approve tax changes, but have yet to define food eligible for low rate
Marathon tax-reform negotiations between the ruling coalition partners concluded Thursday with negotiators agreeing to reduce consumption tax on food, officials said.
BUSINESS
Dec 9, 2015
Low tax on food will hurt the poor, say economists
Political negotiations between the nation's ruling coalition are approaching a showdown over the unpopular consumption tax, which is set to rise to 10 percent from 8 percent in April 2017. A sweetener being considered has drawn scathing criticism from many economists.
BUSINESS
Nov 30, 2015
Auto production dipped 0.5% in October
Vehicle production dropped 0.5 percent in October to 813,110 units from a year ago, as demand for minivehicles remained sluggish amid the lingering effects of tax hikes, data by an industry body showed Monday.
Japan Times
BUSINESS / Economy
Nov 24, 2015
Abe wants to keep revenue loss from tax reduction to less than ¥400 billion
Prime Minister Shinzo Abe orders his team to work toward designating fresh food as the only category subject to lower tax rates when the consumption tax goes up to 10 percent in 2017.
BUSINESS / Economy
Nov 4, 2015
Consumer confidence rises in October amid cheaper gasoline
Consumer confidence improved in October on the back of lower gasoline prices and more job offers, following a decline the previous month.
BUSINESS
Nov 2, 2015
Japan's auto sales fall 4.1% in October for 10th monthly drop
New car sales in October slid 4.1 percent from a year earlier to 380,089 units, data showed Monday, as consumers held off on buying minicars in the face of an ownership tax hike earlier this year.
Japan Times
BUSINESS / Economy
Oct 14, 2015
Abe orders reduced rates to cushion blow from 2017 tax hike
The prime minister instructs the new tax panel chief to introduce special reduced tax rates for certain products in time for the planned April 2017 consumption tax hike.
BUSINESS / Economy
Oct 13, 2015
Government considers multiple levels in 2017 consumption tax hike
The government is considering introducing a reduced tax rate for some products to ease the burden when it raises the consumption tax rate by 2 percentage points to 10 percent in April 2017, Chief Cabinet Secretary Yoshihide Suga said Tuesday.
Japan Times
BUSINESS / Economy
Oct 13, 2015
Retailers warn of dismal spending; sales tax hike seen stifling demand
Do not believe in official statistics, Japanese retailers seem to be saying, as they cut earnings forecasts and warn of lackluster consumer spending, a key growth engine for Japan at a time when exports and factory output are stalling.
Japan Times
BUSINESS / Economy / YEN FOR LIVING
Sep 26, 2015
Inevitable looming consumption tax hike keeps the LDP awake at night
The LDP is in a tough spot between an public wary of consumption tax hikes and a Finance Ministry unwilling to budge on the promised move to a 10-percent levy.
BUSINESS
Sep 15, 2015
Ruling bloc agrees to keep targeted consumption tax reductions as option
The ruling Liberal Democratic Party and Komeito have agreed to keep a proposed reduced rate for certain items as an option in their discussions on how to cushion the impact of the next consumption tax increase.
BUSINESS
Sep 15, 2015
Komeito wants reduced tax rate proposal kept alive
Japan should not rule out imposing a lower rate of consumption tax on certain goods, the head of Komeito told party lawmakers Tuesday.
BUSINESS
Sep 15, 2015
Proposed food-and-drink partial tax refunds may bring little benefit, economists say
Proposed tax refunds on food and drink following a hike in consumption tax next year will have only limited benefit for the economy, some analysts have warned. By one estimate, the refunds will boost gross domestic product growth by a mere 0.03 percentage point.
BUSINESS / Economy
Sep 9, 2015
Plan to use My Number for tax rebates is flawed, some experts say
The system is set to streamline tax collection and social welfare benefits, but critics warn of privacy issues by using it to also provide sales tax rebates.
BUSINESS / Economy
Sep 8, 2015
Economy shrank 1.2% in second quarter as weak consumption, exports hit GDP
The economy shrank an annualized 1.2 percent in the second quarter of 2015 in inflation-adjusted terms, revised upward from preliminary data but confirming the first decline in three quarters amid weak consumption and exports, government data showed Tuesday.
BUSINESS
Sep 5, 2015
Refunds on all food considered to ease '17 tax hike
The feasibility of a 2-point consumption tax refund is eyed for “all kinds of food and beverages except for alcoholic drinks” when levy is raised to 10 percent.
Japan Times
BUSINESS / Economy / FOCUS
Aug 31, 2015
Three strikes on inflation spur calls for overhaul of 'Abenomics'
The third time inflation has fallen to zero in this year persuaded some market watchers that "Abenomics" needs to be taken back for an overhaul.
Who needs AI when you have Hatsune Miku?
Over the first six months of 2024, a handful of songs using Vocaloid singer Hatsune Miku’s voice have enjoyed widespread attention, underlining a global interest in the character and the technology she represents.
Bloodied Trump survives assassination attempt at political rally
Former U.S. President Donald Trump is surrounded and evacuated by Secret Service agents at a campaign rally in Butler, Pennsylvania, on Saturday. Trump was rushed off stage at the rally after shots rang out.
Shooter came within inches of killing Trump, but left few clues as to why
An aerial view shows the stage where Republican presidential candidate and former U.S. President Donald Trump had been standing during an assassination attempt the day before, and the roof of a nearby building where a gunman was shot dead by law enforcement, in Butler, Pennsylvania, on Sunday.
Yen’s woes seem too big for even a BOJ hike this month to solve
The Bank of Japan headquarters in Tokyo
How to beat Japan’s summer heat in ways better for the planet
Tenugui towels hang up to dry at a dyeing company in Sakai, Osaka Prefecture, on May 8. The durable and versatile tenugui, which many people have in their homes, can be used in many ways to cool one’s body.
The neurological disorder that 'kills culture'
Akiko Trush says her experience with the neurological disorder dystonia left her feeling like she wanted to chop her own hand off.
How to beat Japan’s summer heat in ways better for the planet
Tenugui towels hang up to dry at a dyeing company in Sakai, Osaka Prefecture, on May 8. The durable and versatile tenugui, which many people have in their homes, can be used in many ways to cool one’s body.
After Trump shooting, U.S. presidential race might take a violent turn
United States Secret Service Counter Snipers stand guard on a rooftop during a campaign rally for U.S. President Donald Trump in Avoca, Pennsylvania, in 2020.
No AC this summer? No problem (for me).
Think air conditioning is a requirement for a Tokyo summer? Think again.
She’s paying ¥1 million to help behind the scenes at the Paris Olympics
Mai Tarumi, who previously volunteered at the postponed Tokyo Olympics in 2021, has a travel budget of ¥1 million for her trip to volunteer at the Paris Games.

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