Jul 3, 2015

Fiscal 2014 tax revenue soars to highest in 21 years

The government said Friday that tax revenue in fiscal 2014 climbed to ¥54.0 trillion ($438.4 billion), the highest since 1993, thanks to a jump in corporate tax receipts and the first stage of the doubling of the consumption tax. Revenue climbed 14.9 percent on ...

Feb 6, 2015

Composite index suggests economy is improving

Japan’s key composite index rose in December following a fall the previous month, the government said on Friday, suggesting the country’s economy may have overcome the negative impact of the 3-percentage-point consumption tax hike to 8 percent last April. The December index of coincident ...

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

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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. ...