tax

Japan Press Service Co., Ltd. is the only news agency providing information of progressive, democratic movements in Japan

Nippon Keidanren calls for a 10% consumption tax rate

The Japan Business Federation (Nippon Keidanren) on April 13 published a proposal for Japan's fiscal reform that includes an early phased increase in the consumption tax rate to ten percent, ostensibly to be able to respond to soaring costs of social services in the aging society.

The proposal on the other hand calls for the corporative tax rate to be reduced to 35 percent from the present 40%.

With the Council on Economic and Fiscal Policy expected to issue "options and a work schedule" for "fiscal reconstruction" in June, Nippon Keidanren intends to urge the council to accept its demands.
- Akahata, April 14, 2006