Gov't to grant tax moratorium for virus-hit firms with 20% revenue drop

Prime Minister Shinzo Abe has pledged to compile the "boldest-ever" stimulus package including cash handouts to households and subsidies to small companies affected by the virus outbreak.

How much do I get? Oh it's a pledge! So nothing. But guaranteed Toyota and construction companies get more than my yearly earning * 1000

I'm not sure about most folks but I would like to see a temporary moratorium on my personal consumption tax to 0 during this crisis and leave us the working poor with more discretionary income to put back into the economy and let the corporations pay half vs keeping it all in profits.

In Japan a larger problem lies on the demand side. Unless consumption is encouraged and uplifted, state support on business/supply-side would be futile. Forget pork-barrel. Politicians tend to look after vested interests at the expense of bigger public interests.

Whoever came up with this did not talk to an accountant....

For unprofitable or small profit businesses if you want to drop profits by 20% you just pull your losses from future years onto the one year.... boom! 20% down....

For profitable companies push your contracts forward to a future date and boom revenues down!

Some companies have bad business, before the corona virus. Pls look at at least 5 years of sales and profit and if the profits are real ???. I see some comapanies and they have been writing their own profits and etc etc and etc.

SMEs try to minimise their taxes, they don't want to pay the 50% corporate tax, so it won't affect them much, though not paying NHI, pension and asset tax will help a little as it comprises around 18% salaries. They often rent their office or premises, so property tax and city planning tax are also out. With zero income, what they want are positive help with rent and salaries, or even just salaries of staff as other countries are doing.

I would like to see a temporary moratorium on my personal consumption tax to 0 during this crisis

Well, there is talk to give everyone 100,000 yen (even people like me who don't need it!).

So that certainly covers a fair bit of consumption tax. Multiply by the population and its 12,000,000,000,000‬ yen... so many zeros, it's 12 trillion yen. More than the amount of extra revenue from the tax increase.

It sure looks like a temporary moratorium to me, if you spend circa 1,000,000+ yen during this pandemic.