OECD asks Japan to double the consumption tax rate
15 Apr 2019
Japan should more than double the consumption tax rate to as high as 26 per cent to ensure its fiscal sustainability, the Organization for Economic Cooperation and Development said Monday. In its biennial report, the OECD said Japan faces the intertwined challenges of a rapidly graying population and large government debt, which require a “comprehensive fiscal consolidation plan, including specific spending cuts and tax increases.”