May 1, 2015

Auto sales slow in April after tax hike on minicars

Sales of new autos slumped 7.5 percent in April from a year earlier to 319,482 units, with last month’s auto tax hike on minivehicles acting as a brake on demand, industry bodies said Friday. Sales of minicars, defined as having an engine displacement of ...

Apr 2, 2015

60% of Japanese cut spending after tax hike: BOJ survey

A Bank of Japan survey revealed Thursday that 59.8 percent of respondents tightened their purse strings after the consumption tax hike in April last year. Of them, 75.3 percent said they were still curbing spending, according to the survey, which was conducted between Feb. ...

Mar 31, 2015

Diet passes tax system revisions for fiscal 2015

The Diet on Tuesday approved legislation for tax system revisions for fiscal 2015, including postponement of the next consumption tax hike. Prime Minister Shinzo Abe announced late last year he was putting off the planned tax hike to 10 percent until April 2017, a ...

Mar 3, 2015

The government's fiscal road map

The Abe administration's forthcoming fiscal rehabilitation plan may give clues as to whether it is serious about getting the government's fiscal house in order.

Feb 18, 2015

Diet ready to take up tax reform legislation for fiscal 2015

Tax reform legislation for fiscal 2015 that would cut the corporate tax rate and formalize the delay in hiking the consumption tax has made it to the Diet, with the Abe administration looking for quick approval. The Cabinet approved the proposed legislation Tuesday. It ...

Feb 17, 2015

Household spending logs biggest drop in eight years

Household spending in 2014 declined at its fastest pace in eight years, official data showed Tuesday, underscoring the impact of the first consumption tax hike in nearly two decades. The figures come a day after the government said the economy limped out of recession ...