- The Japanese government is considering modifications to the consumption tax exemption system for foreign tourists.
- Currently, foreign tourists can purchase goods at duty-free prices in Japan.
- The government is evaluating a new system where consumption tax will be paid first when purchasing, and refunded after confirming the goods when leaving the country.
- This is in response to reports of speculators taking advantage of the current system.
- The implementation of the new system is expected to be after 2025.
- The ruling party’s tax reform outline in December will reveal the specific direction.
- There are currently 53,000 duty-free shops in Japan, and some believe the tax exemption system should align with international standards.
Source: archyde.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
