Dec 4, 2015

Fresh bid to hike cigarette tax in works

Ruling bloc lawmakers plan to file a bid to hike the tobacco tax in a drive to improve public health ahead of the Olympics. A group of lawmakers from the Liberal Democratic Party plans to submit a joint proposal with Komeito, its coalition partner, ...

Oct 31, 2015

IMF urges consumption tax higher than 10 percent in Japan

The International Monetary Fund advised Japan on Friday to raise the consumption tax rate to more than 10 percent in the future to help promote fiscal reconstruction. The IMF made the call in a report on the global economic outlook and policy challenges for ...

Oct 16, 2015

77% back reduced consumption tax rate: poll

A Jiji Press poll has found that 77.4 percent of respondents support the proposed introduction of a reduced tax rate for some items when the consumption tax is hiked from 8 percent to 10 percent in 2017. Only 17.3 percent oppose the idea, according ...

Oct 1, 2015

Quake insurance costs to rise by 50% in some prefectures

An association of Japanese nonlife insurers on Wednesday told the Financial Services Agency of plans to raise quake insurance premium rates by a nationwide average of 19 percent in three stages from 2017. The General Insurance Rating Organization of Japan said premiums will go ...

Aug 1, 2014

Japan must hike sales tax again to conquer debt, IMF says

Japan must raise its sales tax again to conquer one of the world’s heaviest public debt burdens, the International Monetary Fund said on Thursday, as it called for deep economic reforms. The recommendations, outlined in the Washington-based fund’s annual country report, come four months ...

Apr 18, 2014

Chubu Electric gets OK to hike rates 3.77%

The Ministry of Economy, Trade and Industry on Friday approved Chubu Electric Power Co.’s request to raise household electricity prices by an average of 3.77 percent. The hike, which takes effect May 1, will make the regional utility the seventh to raise electricity rates ...

Tax hike, Crimea cloud economy

| Mar 29, 2014

Tax hike, Crimea cloud economy

The first sales tax hike in 17 years and the ongoing geopolitical crisis over Crimea could turn into a double-whammy for Japan's fragile economic revival.

Feb 22, 2013

METI to trim requested power rate hikes in Kansai, Kyushu

A panel of experts under the Ministry of Economy, Trade and Industry has confirmed its plan to urge Kansai Electric Power Co. and Kyushu Electric Power Co. to make more cuts in their fuel and personnel spending, a move that will likely lead to ...