- Prime Minister Sanae Takaichi may pledge to suspend the 8% sales tax on food in her campaign for a snap election next month.
- The government and Liberal Democratic Party are assessing the market impact before making a decision.
- Suspending the tax could reduce government revenue by about 5 trillion yen annually.
- Takaichi plans to dissolve parliament and call a snap election, possibly on February 8.
- The ruling coalition is considering exempting food and beverages from the consumption tax for two years.
Source: thesun.my
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.
Latest Posts in "Japan"
- Japan PM Takaichi May Pledge to Suspend Food Sales Tax in Election Campaign
- Japan to Introduce Point-of-Sale Consumption Tax for Low Value Goods from April 2028
- Abolition of Special Customs Valuation for Personal Use Goods in 2026 Tax Reform Proposals
- Japan’s 2026 Tax Reform: Platform-Level Taxation for Marketplaces Handling Physical Goods
- Strengthening Japan’s Anti-Dumping Duties: New Measures to Prevent Circumvention and Evasion
