Democrats · Japan · Nation Thailand
Japanese panel proposes food tax cuts to fulfil campaign pledge
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A fresh proposal to slash Japan’s food consumption tax to virtually zero per cent has been put forward in an effort to deliver on a key election pledge made by Prime Minister Sanae Takaichi .
Key facts
- Itsunori Onodera, who chairs a suprapartisan working-level panel under the National Council on Social Security, unveiled the strategy, which seeks to temporarily lower the levy to one per cent for two years starting next April.
- This interim measure is designed to segue into the Takaichi administration's ultimate objective: a comprehensive refundable tax credit system scheduled for full implementation around autumn 2029.
- Under the current timeline, the initial iterations of these income-linked benefits would be rolled out during the autumn of 2027 and 2028.
- Onodera, who also leads the ruling Liberal Democratic Party ’s Research Commission on the Tax System, explained that the revenue generated from this one per cent rate, amounting to approximately 600 billion yen annually, would be
Summary
Itsunori Onodera, who chairs a suprapartisan working-level panel under the National Council on Social Security, unveiled the strategy, which seeks to temporarily lower the levy to one per cent for two years starting next April.
Onodera, who also leads the ruling Liberal Democratic Party ’s Research Commission on the Tax System, explained that the revenue generated from this one per cent rate, amounting to approximately 600 billion yen annually, would be redistributed.