Economy News

Japan has no plans to review sales tax rates, finance minister says

TOKYO (Reuters) – Japanese is not considering reviewing future national sales tax rates as the current 10% levy provides a vital source of funding the social security spending to support its ageing population, the finance minister said on Friday.

Shunichi Suzuki told reporters after a cabinet meeting that Japan must tackle spending and revenue reform to win market trust in its fiscal position, which he said was severe.

Source: Reuters/

© Reuters. FILE PHOTO: Shoppers look around goods at a shop in Tokyo, Japan October 1, 2019. REUTERS/Kim Kyung-Hoon

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