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© (c) Copyright Thomson Reuters 2019.October still opportune time for Japan to raise sales tax: Moody's
By Stanley White TOKYO©2024 GPlusMedia Inc.
10 Comments
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Kenji Fujimori
Japan will be destroyed by this tax! The 8% increase a few years ago brought nothing but further debts and more unemployment with our youth
garypen
They should do it gradually, 1% at a time, to 9% at first.
JeffLee
They should only do if certain fiscal targets are met.
kurisupisu
The cost of living will be 2% higher !
Will Japanese companies be giving their staff pay raises to compensate?
Bugle Boy of Company B
Not unless you pay consumer tax on your rent!
Oh, yessss! Of couurrrrrrrse!
kurisupisu
I don’t rent.....
Whatsnext
Actually living cost will go up more than 2 percent. A lot of companies will pass the cost on to the consumer.
I wonder how much smaller a bag of chips can possibly get at this point.
Serrano
Newsflash for the economic geniuses who plan on this tax hike - it's a bad idea. Cut wasteful spending instead.
AramaTaihenNoYouDidnt
The reality, though, is that the increase to 10% will not completely offset the impact of aged nursing and other social costs, and so their thoughts is that a special study group, to be enjoined shortly after by the politicians, will start to point to sales tax levels overseas and call for additional increases here at home. While this logic may or may not be accepted, the government will first have to reduce corporate tax rates significantly, or otherwise risk putting an increasing number of corporations out of business. It is believed within this year, the government will also start floating trial balloons to increase the retirement age, perhaps by offering people who defer their pensions some special tax incentives so as to stay on the job.