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Bills to Postpone Consumption Tax Rate Increase - Passed

Bills to Postpone Consumption Tax Rate Increase ...

On 18 November 2016, the bills to postpone the consumption tax rate increase were passed by the Japanese Diet. The bills were submitted to the extraordinary session of the Diet on 26 September 2016 as a consequence of an announcement by Prime Minister Shinzo Abe on 1 June 2016 that the consumption tax rate increase from 8 percent to 10 percent should be postponed by two and a half years to 1 October 2019.

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We have set out in this e-Tax News a brief summary of the main points of the bills.

Contents

  1. Consumption Tax
  2. Local Taxation for Companies

KPMG Japan e-Tax News No.124

e-Tax News

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