Japan Rolls Out Controversial Tax Hike

Japanese Prime Minister Shinzo Abe is going ahead with a controversial sales tax hike to help reduce the country’s massive public debt.

Abe on Tuesday announced the long-anticipated plan to raise the consumption tax from 5 percent to 8 percent by April of next year. “In order to maintain confidence in the country and pass sustainable social security to the next generation, I have decided to raise the tax of the central and local governments from 5 percent to 8 percent on April 1, …

Powered by WPeMatico

This entry was posted in Business. Bookmark the permalink.

Comments are closed.