September 20, 2012

Japanese households to pay higher consumption tax of 8 percent as bill passes

" A bill, passed by the House of Representatives, the lower chamber of parliament, Tuesday seeks to raise the 5 pct consumption tax to 8 pct in April 2014 and to 10 pct in October 2015.An average household of four people with an annual income of 5 million yen will have to pay about 170,000 yen more in consumption taxes in 2016 than it paid last year, according to an estimate made by Daiwa Institute of Research Ltd."

Source: Japanese Households to Face Heavier Burden
2012/06/26
Jiji Press

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