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Tag - taxes

 
 

TAXES

The ruling Liberal Democratic Party pledged during February¡¯s general election campaign to speed up discussions on suspending the tax on food for two years.
BUSINESS / Economy
Jun 16, 2026
LDP still considering cutting sales tax to zero for food
The ruling party pledged during February¡¯s general election campaign to speed up discussions on suspending the tax on food for two years with a view to going ahead with it.
A consumption tax cut on groceries is intended to help households struggling to make ends meet.
BUSINESS / Economy
Jun 12, 2026
Consumption tax cut on groceries could do more harm than good
It could lead to less confidence in Japan¡¯s fiscal state, a weaker yen, higher rates and slower economic growth.
Parent-child groups cook dishes using milk offered as a return gift for the hometown tax donation program during an event held in Tokyo in March.
JAPAN
Jun 9, 2026
Hometown donations program to refocus on local community ties
Following a revision to the?furusato nš­zei?system, the internal affairs ministry wants to move away from the ¡°good deals¡± offered through generous return gifts.
A decaying Dutch-era colonial house in Teuku Umar Street in Menteng, Jakarta on May 28
BUSINESS
Jun 9, 2026
Rotting $16 million mansion exposes Indonesia¡¯s tangled legal system
The Jakarta property is just one of many that lie derelict amid protracted wrangles over ownership which are complicated by poor records keeping and overlapping legal systems.
Since adjusting cash register systems for a 1% tax rate would take less time than for zero percent, implementing 1% next April is gaining support within the government and ruling parties.
JAPAN / Politics
Jun 7, 2026
Final decision on tax cut left to PM Takaichi: LDP exec
Since adjusting cash register systems for a 1% tax rate would take less time than for zero percent, implementing 1% next April is gaining support.
Prime Minister Sanae Takaichi during a party leaders' debate at the Lower House of parliament in Tokyo on May 20. A pledge to cut the consumption tax on food products is quickly becoming a policy headache for the prime minister.
JAPAN / Politics / ANALYSIS
Jun 4, 2026
Consumption tax cut is quickly turning into a headache for Takaichi
Translating the pledge from Prime Minister Sanae Takaichi¡¯s administration into policy has proven more complicated than many lawmakers anticipated.
President Donald Trump holds a Cabinet meeting at the White House in Washington on Wednesday, May 27.
WORLD / Politics
Jun 3, 2026
Trump administration drops $1.8 billion ¡®weaponization¡¯ fund after Republican backlash
The fund emerged after Trump¡¯s unprecedented $10 billion lawsuit ?against the IRS over the alleged mishandling of his tax records.
Prime Minister Sanae Takaichi speaks during a meeting at the Prime Minister's office in Tokyo last month.
JAPAN
Jun 2, 2026
Takaichi administration considering 1% tax on food from next April
A tax cut to 1% would require less time to update cash register systems and could be implemented sooner than her campaign pledge of zero percent.
Itsunori Onodera, the Liberal Democratic Party's tax chief, on Wednesday presented a draft outline for providing additional benefits for households with children during a meeting of lawmakers.
JAPAN / Politics
May 28, 2026
Lawmakers eye extra benefits for child-rearing households
A bipartisan group of lawmakers is looking into increasing take-home pay for low- and middle-income workers by adjusting the amount of benefits according to income.
U.S. President Donald Trump speaks to journalists as he makes his way to board Marine One before departing from the South Lawn of the White House in Washington on May 8.
WORLD / Politics
May 21, 2026
Trump¡¯s $1.776 billion ¡®weaponization¡¯ fund sparks outrage, but court challenges will be tough
Congressional Democrats have derided what is known as the Anti-Weaponization Fund as a slush fund to steer taxpayer dollars to Trump¡¯s political allies.
The Internal Revenue Service headquarters in Washington. U.S. President Donald Trump has secured a settlement with the IRS, dropping a lawsuit filed in January, despite concerns that he effectively controlled both sides of the litigation.
WORLD / Politics
May 20, 2026
Trump¡¯s IRS settlement includes dropping tax cases and audits
The accord represents a major triumph by U.S. President Donald Trump over the Internal Revenue Service, but has also been called ¡°a breathtaking abuse of the tax and legal system.¡±
Members of the National Council on Social Security's panel of experts meet in the parliamentary building on Wednesday.
JAPAN
May 18, 2026
Scope of eligibility seen as key focus in Japan¡¯s refundable tax credit talks
The central government is eyeing introducing a refundable tax credit program following a stopgap measure of reducing the consumption tax rate on food to zero for two years.
An AI industrial humanoid robot is demonstrated at Foxconn¡¯s annual tech day in Taipei in November.
COMMENTARY / World
May 15, 2026
Will artificial intelligence solve wealthy nations¡¯ debt woes?
If anything, the technology is likely to cause profound ¡ª and costly ¡ª problems on the way to the halcyon future.
The Bank of Japan headquarters in Tokyo
BUSINESS / Economy
May 13, 2026
BOJ¡¯s policy rate likely to reach 2% by end-2027, OECD says
The report marks the OECD¡¯s first survey on Japan since January 2024, when the BOJ¡¯s policy rate was still in negative territory.
Mathias Cormann (left), secretary-general of the OECD, and Prime Minister Sanae Takaichi meet at the Prime Minister's Office on Tuesday.
BUSINESS / Economy
May 13, 2026
OECD chief sees Japan¡¯s zero consumption tax plan as costly
Prime Minister Sanae Takaichi¡¯s administration plans to reduce the consumption tax on food items to zero for two years to cope with inflation.
Internal affairs minister Yoshimasa Hayashi noted Tuesday that fees paid by local governments to intermediary operators as part of the <i>furusato n§à?zei</i> hometown tax donation program have reached a high level. The ministry plans to urge such portal site operators to lower their commission fees as part of plans to increase the amount of donated funds made available to local governments.
BUSINESS
May 12, 2026
Commission fees for furusato nš­zei portal sites exceed 10% of donated funds
The ministry plans to urge such portal site operators to lower their fees, as part of plans to increase the amount of donated funds made available to local governments.
Some are calling for the food tax rate to be set at 1% instead of fully shelving the tax, so that changes needed for cash register systems becomes easier and require less time.
JAPAN / Politics / FOCUS
Apr 29, 2026
Food tax rate of 1% pitched as industries push back on PM¡¯s campaign promise
Although the government aims to implement the two-year tax cut to 0% within fiscal 2026, it would take a year to make cash register systems compatible with such a rate.
Keidanren Vice Chair Hideki Kobori speaks at a news conference in Tokyo on Monday.
BUSINESS / Economy
Apr 13, 2026
Keidanren proposes setting up fiscal institution in parliament
Japan¡¯s biggest business lobby envisions the body to provide a basis for discussions on comprehensive tax, fiscal and social security reforms in the country.
Delegates attend the World Trade Organization 14th ministerial meeting in Yaounde, Cameroon, on Saturday.
BUSINESS / Tech
Mar 30, 2026
WTO talks end in deadlock after Brazil blocks deal over e-commerce duties
The WTO countries are negotiating an extension to a moratorium on customs duties for electronic transmissions such as digital downloads.
The Finance Ministry projected in December that revenue from tobacco tax increases would total ?44 billion for the 2026 fiscal year and ?116 billion in 2027.
JAPAN / Politics / FOCUS
Mar 26, 2026
Tobacco and corporate tax hikes to help finance defense expansion
The new taxes are being introduced as the government is looking to secure over ?9 trillion in defense spending for the 2026 fiscal year, reaching 2% of GDP.

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