Japan seen hiking sales tax to 10 per cent in October
12 Apr 2019
Japan will forge ahead with a planned sales tax hike to 10 per cent in October, likely knocking the economy into contraction in the fourth quarter, a Reuters poll showed. Tokyo has twice postponed raising the sales tax from 8 per cent but Prime Minister Shinzo Abe has repeatedly said the hike would be proceeded this time. To blunt its economic impact, the government has earmarked about 2 trillion yen ($18 billion) in spending.