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The 5% is made up of a 4% national consumption tax and a 1% local consumption tax. [7] Shortly after the tax was introduced, Japan fell into recession, [8] which was blamed by some on the consumption tax increase, [9] and by others on the 1997 Asian financial crisis.
A consumption tax is a tax levied on consumption spending on goods and services. The tax base of such a tax is the money spent on consumption. Consumption taxes are usually indirect, such as a sales tax or a value-added tax. However, a consumption tax can also be structured as a form of direct, personal taxation, such as the Hall–Rabushka ...
The government of Japan's move to inch up consumption rates to 10% from 8% brings some of the country's ETFs in spotlight.
An Outline of Japanese Tax Administration 2003 ; National Tax Collection Act (Extract) Act No. 147 of 1959; Translation date: October 26, 2009 ; Income Tax Act (Limited to the provisions related to nonresidents and foreign corporations) Act No. 33 of 1965; Translation date: April 1, 2009
An indirect tax (such as a sales tax, per unit tax, value-added tax (VAT), excise tax, consumption tax, or tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased. Alternatively, if the entity who pays taxes to the tax ...
Consumption tax rate is 10%, while corporate tax rates are high, second highest corporate tax rate in the world, at 36.8%. [209] [210] [211] However, the House of Representatives has passed a bill which increased the consumption tax to 10% in October 2015. [212] The government has also decided to reduce corporate tax and to phase out automobile ...
Consumption tax was introduced in Japan in April 1989. [7] BOJ tightened monetary policy by hiking the official discount rate from 2.5% to 4.25% by late December 1989. [7] Japanese Yen fell against US dollar, falling as low as 145.06JPY/USD by September. [11]
A Taxing Woman (マルサの女, Marusa no onna) [a] is a 1987 Japanese film written and directed by Juzo Itami. [1] It won numerous awards, including six major Japanese Academy awards. [ 2 ] The title character of the film, played by Nobuko Miyamoto , is a tax investigator for the Japanese National Tax Agency who employs various techniques to ...