The consumption tax rate increased to 10% from 1st Oct 2019 as Japan tries to cover the cost of social security.
Consumption tax rate incensement is not fresh news. In 2012, the Japan government already had an agreement in the major parties that take two steps to achieve a 10% consumption tax rate incensement. They raised the consumption tax rate from 5% to 8% in 2014 as the first step. It takes another 5 years to prepare the 10% tax increment.
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