- A cross-party working group on cutting the consumption tax and introducing refundable tax credits held its first meeting in the Diet Building.
- The group aims to produce an interim report before summer and will consider input from affected industries.
- Some parties and members are cautious or resistant to cutting the consumption tax, which funds social security, but are more positive about refundable tax credits.
- Prime Minister Takaichi supports a temporary zero consumption tax on food, but there are concerns and obstacles, especially regarding implementation and verification for tax credits.
- The group will discuss specific measures, with some parties preparing their own proposals for tax credit systems.
Source: japannews.yomiuri.co.jp
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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