Japan on Monday announced a much anticipated sales tax increase in 2019 to address the nation’s huge public debt, despite warnings it could hobble growth in the world’s third-biggest economy.
The point-of-sale tax will rise from eight per cent to 10 per cent from October next year as ageing and heavily indebted Japan battles to finance snowballing social security bills – especially medical fees.
The tax rise was originally planned for October 2015 but was pushed back twice…
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