VATupdate

SME merchant fee subsidy program introduced

With the increase in the standard rate of Japanese consumption tax (JCT) from 8% to 10% as from 1 October 2019, the government has introduced a special program (Program) to encourage consumer spending at small and medium-sized enterprises (SMEs) and prevent the contraction of demand, while making the country a more cashless society.

Source: Deloitte

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