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Increase in the Consumption Tax Rate and Outline of Tax Reform Proposal to Stimulate Business Investment

Increase in the Consumption Tax Rate and Outline of ...

On 1 October 2013, the Japanese government formally decided to increase the current consumption tax rate from 5 percent to 8 percent from 1 April 2014 as originally scheduled. Also, the ruling coalition announced the ‘Outline of Tax Reform Proposal to Stimulate Business Investment’ including proposals for several tax incentives and a statement to consider abolishing the Special Reconstruction Corporation Tax a year ahead of the original schedule.

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This newsletter covers the government decision regarding the increase in the consumption tax rate and the main points of the proposal.

Contents

  1. Increase in the Consumption Tax Rate (Final Confirmation)
  2. Tax Reform Proposal to Stimulate Business Investment

Japan TAX Newsletter

© 2020 KPMG AZSA LLC, a limited liability audit corporation incorporated under the Japanese Certified Public Accountants Law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2020 KPMG Tax Corporation, a tax corporation incorporated under the Japanese CPTA Law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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