Most major firms expect to see economy grow by year-end

Aug 17, 2014

Most major firms expect to see economy grow by year-end

A domestic survey of 106 major companies has found that 100 expect the economy to expand toward year-end, and that 76 do not oppose the government’s plan to complete the doubling of the sales tax to 10 percent in 2015, a poll says. Although ...

Aug 16, 2014

IMF urges Japan to take quick action on structural reforms

The International Monetary Fund has underscored the need for Japan to promote structural reforms quickly in light of its worst gross domestic product contraction in 13 quarters. “With the near-term outlook looking increasingly uncertain, the government needs to move quickly on the third arrow ...

75% oppose second stage of sales tax hike

Aug 15, 2014

75% oppose second stage of sales tax hike

Three-quarters of the public is against the second stage of consumption tax hike planned for October 2015, after taking a heavy blow from the first stage in April, according to the latest survey. In a survey carried out by Jiji Press over four days ...

Aug 5, 2014

Tax deductions for 'hometown donations' to be simplified

The Abe administration plans to simplify procedures for income and residential tax deductions for donations to municipalities of the taxpayer’s choice, Chief Cabinet Secretary Yoshihide Suga said. “We (want to) simplify the procedures as we hear people say the procedures are difficult,” Suga said ...

Jul 29, 2014

Household spending down 3% in June

The average consumption spending by households fell 3 percent in June compared with a year earlier, in price-adjusted real terms, due to sagging demand after the consumption tax hike on April 1, the Internal Affairs and Communications Ministry said Tuesday. The reading compared with ...

Jul 25, 2014

LVMH profit trails estimates as Japan tax hike hits fashion biz

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods company, reported first-half earnings that trailed estimates as the strength of the euro weighed on growth and the first stage of the Japanese tax hike hurt sales of fashion and leather goods. Profit from ...

Selective consumption tax weighed

| Jul 21, 2014

Selective consumption tax weighed

by Ayako Mie

It’s only been three months since the consumption tax was hiked to 8 percent, but the ruling coalition is already expediting talks on another increase scheduled to come into effect in October next year. Concerned that the tax hikes could harm consumer confidence, the ...

Jul 11, 2014

Third-quarter growth may pave way for second stage of tax hike

The economy is likely to grow between July and September at a pace consistent with plans to complete the doubling of the consumption tax to 10 percent in October 2015, a government-affiliated nonprofit group said in a survey. The Japan Center for Economic Research ...

Jul 10, 2014

Energy costs push wholesale prices up 4.6% in June

Wholesale prices climbed 4.6 percent in June from a year earlier, largely due to higher energy costs, the Bank of Japan said Thursday. In notching its 15th consecutive month of growth, the index of corporate goods prices came to 106.3 against the 2010 base ...