- Prime Minister Shigeru Ishiba will not reduce the consumption tax rate despite inflation and U.S. tariffs.
- This decision comes before a national election, despite calls for relief from opposition and some ruling party lawmakers.
- Ishiba has informed senior government officials of his decision, concerned about fiscal constraints from a tax cut.
- Chief Cabinet Secretary Yoshimasa Hayashi emphasized the importance of the consumption tax for Japan’s revenue.
- The current tax rate is 8 percent for food and beverages and 10 percent for other items.
- Hayashi stated that reducing the tax rate would not be appropriate.
Source: english.kyodonews.net
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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