Dec 2, 2014

Inflation-adjusted wages continue falling

Wages for salaried workers adjusted for inflation dropped 2.8 percent in October, marking the 16th consecutive month of decline, government data showed Tuesday. Wages stood at ¥267,935 per worker, up 0.5 percent from a year earlier if the impact of consumer price hikes is ...

Dec 2, 2014

Tax revenue may reach highest level in 17 years

Central government tax revenue may reach its highest level in 17 years in fiscal 2014 on the back of the April 1 consumption tax hike and growth in corporate and individual income tax receipts, Finance Ministry officials said. Tax revenue is estimated to total ...

Nov 25, 2014

Abe consumption tax backfiring with more debt, not less

by Wes Goodman

What started as a plan to reduce the national debt is turning into a reason to issue more bonds. Prime Minister Shinzo Abe’s administration implemented a higher consumption tax in April to boost revenue as government liabilities ballooned to ¥1 quadrillion ($8.5 trillion), more ...

LDP's Tanigaki backs 2015 sales tax hike

Sep 13, 2014

LDP's Tanigaki backs 2015 sales tax hike

Liberal Democratic Party Secretary-General Sadakazu Tanigaki made clear his belief on Saturday that the government should raise the consumption tax rate again, to 10 percent in October 2015, as planned. “We should not put off things in the broad direction,” Tanigaki said during a ...

Sep 9, 2014

Abe needs more stimulus to raise sales tax, adviser Itoh says

The administration should consider a supplementary budget this year and will need to add stimulus for the economy to weather the planned increase in the consumption tax in 2015, according to Motoshige Itoh, a member of an advisory panel to Prime Minister Shinzo Abe. ...

Japan current account balance back in black

Sep 8, 2014

Japan current account balance back in black

The nation’s current account balance was in the black for the first time in two months in July, hitting ¥416.7 billion as the income from foreign investments rose to a record high for the month, outweighing the trade deficit, the government said Monday. Imports ...

Aso plans new extra budget to cushion sales tax hike to 10%

Sep 5, 2014

Aso plans new extra budget to cushion sales tax hike to 10%

The Abe administration will compile another extra budget to mitigate the economic impact of the October 29015 tax hike, Finance Minister Taro Aso indicated on Friday. “It is necessary to prepare to craft a supplementary budget” this fiscal year, Aso said while expressing his ...