Japan confirms 2019 Consumption Tax hike
- Oct 14, 2018 | Richard Asquith
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 been delayed twice since 2015.
Japan has the largest public debt of the developed world at 223% of GDP, and a fast ageing population forcing the rise in indirect tax.