Japanese PM Ishiba Rules Out Sales Tax Hike During 3-Year Term, Focuses on Social Security Funding

• Japanese Prime Minister Shigeru Ishiba is not considering a sales tax hike during his three-year term
• He aims to fund social security programs without changing the current tax rate of 10%
• Ishiba wants to shore up support ahead of a general election on Oct. 27
• He is not considering reducing or raising the consumption tax at the moment
• Ishiba is also not considering a one-off tax cut like his predecessor made to help with inflation
• He believes the government needs to carefully consider revenue from consumption tax, corporate tax, and income tax before making any decisions on tax cuts.

Source: bnnbloomberg.ca

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.

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