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Japan to delay Consumption Tax rise


Japan to delay Consumption Tax rise

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. It is the second rise as part of Abe’s economic turnaround plan. The first, from 5% to 8%, was made in 2014.

These rises are part of a plan to help fund a spiraling social security bill as the Japanese population ages.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.