Japan confirms 2019 Consumption Tax hikeCategory:

Japan

Japan confirms 2019 Consumption Tax hike

October 14th, 2018

Japan is to confirm this week its plan to complete the second rise in its Consumption Tax, from 8% to 10% in October 2019.  The first hike, in 2014 from 5% to 8% was blamed for a sharp rise in inflation and tipping the world’s third largest economy into recession. This latest rise has already …


Japan

Japan on track for 10% Consumption Tax 2019

August 13th, 2018

Japan’s latest growth rates mean the planned rise in its Consumption Tax from 8% to 10% in October 2019 will still go ahead. The rise had previously been delayed twice because of stagnant growth. The indirect tax was originally raised from 5% to 8% in 2014 to help fund the spiralling social costs of an ageing …


New Caledonia

New Caledonia delays TGC tax

July 24th, 2018

New Caledonia has delayed the proposed introduction of its consumption tax, Taxe Générale sur la Consommation (TGC). The current import tax and service tax will continue until further notice.


Japan

Japan 10% Consumption Tax Oct 2019

April 15th, 2018

Japan is continuing to prepare for a rise in its Consumption Tax from 8% to 10% on 1 October 2019. The planned rise has already been delayed once, in 2016. It is the second in a long-planned doubling of the tax – the first from 5% to 8% coming in 2014. The OECD has warned this month that …


Japan

Japan bitcoin Consumption Tax

October 12th, 2016

The Japanese Ministry of Finance is expected to shortly announce that the sale of bitcoin and other virtual currencies will be exempted from 8% Consumption Tax. The change in fiscal policy is based on a reclassification of bitcoin as a payment method by the Fund Settlement Law. Japan is one of last major economies to …


Japan

Japan Consumption Tax rise delay till 2019

May 30th, 2016

Close advisors to premier Shinzo Abe indicated this weekend that the planed April 2017 rise in Japanese Consumption Tax from 8% to 10% will be postponed until 2019. Continuing weak consumer demand, and a slowing Chinese market, had put the rise in doubt for a year. It was part of a two-part planned rise, the …


Japan

Japan to delay Consumption Tax rise

May 14th, 2016

Japan’s premier, Shinzo Abe, is expected to announce that the planned rise from 8% to 10% in Consumption Tax is to be delayed.  A formal announcement is expected at the end of May. This rise was scheduled for April 2017, but slowing growth has put it in doubt. The rise had already been delayed once. …


Japan

Japan recession threatens Consumption Tax rise

March 29th, 2016

Japan’s lacklustre economy, currently at negative growth rate of 0.3%, means that the long-planned Consumption Tax rise to 10% may be postponed again. Whilst Japan has been obliged to schedule the rise from 8% since 2012 to help fund rising debt with an aging population, the flat economy may not stand a further dampening on …