Komeito to Propose Sales Tax Cut on Food, Yomiuri Reports

Komeito to propose sales tax cut on food, Yomiuri reports

A Komeito official confirmed the report, saying the tax cut idea will be among proposals in the campaign pledge due on Friday.

Japan’s ruling coalition partner to propose sales tax cut on food, Yomiuri reports

TOKYO (Reuters) -Japan’s junior ruling coalition partner, Komeito, will propose cutting the consumption tax rate for food items to 5% from 8% in a campaign pledge for the upper house election slated in July, the Yomiuri newspaper reported on Wednesday. The campaign pledge, to be announced on Friday, will also include a proposal to offer cash payouts to cushion the blow to households from rising living costs, the paper said. The proposed stimulus…

Japan’s ruling coalition partner to propose sales tax cut on food

The country applies an 8% consumption tax rate for food and 10% for other items, with the proceeds mostly used to fund social welfare costs.