Japan announces consumption tax increase and investment incentive proposals

Asia-Pacific Tax Newsalert

The Japanese government recently announced that it will proceed with a planned increase in the consumption tax rate from 5% to 8%, effective April 1, 2014. To reduce the economic impact of the rate increase, the government also announced proposals for new investment incentives in the Economic Policy Package. These proposals are expected to be included in either the 2013 amended budget or the 2014 draft budget.

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