Japan has no plans to review sales tax rates, finance minister says

  • English
  • 日本語
  • 简体字
  • 繁體字
  • Français
  • Español
  • العربية
  • Русский

FILE PHOTO: Shoppers look around goods at a shop in Tokyo, Japan October 1, 2019. REUTERS/Kim Kyung-Hoon
FILE PHOTO: Shoppers look around goods at a shop in Tokyo, Japan October 1, 2019. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Japanese is not considering reviewing future national sales tax rates as the current 10% levy provides a vital source of funding the social security spending to support its ageing population, the finance minister said on Friday.

Shunichi Suzuki told reporters after a cabinet meeting that Japan must tackle spending and revenue reform to win market trust in its fiscal position, which he said was severe.

(Reporting by Tetsushi Kajimoto; Editing by Christian Schmollinger)

(c) Copyright Thomson Reuters 2022. Click For Restrictions -
https://agency.reuters.com/en/copyright.html

Reuters Japan Asia East Asia