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Japan may dip into forex reserves to make good revenue shortfall

Its plan to exempt foods from 2017's VAT hike will mean collecting 600b yen less in taxes
Saturday, January 16, 2016 - 05:50
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HEMMED IN: The 2014 VAT hike put Japan in a slump, but Mr Abe has already committed his government to another hike in 2017.

Tokyo

THE Japanese government may be forced to tap into the nation's foreign-exchange reserves of more than US$1 trillion, in order to keep its promise to the international community that its national consumption tax would be raised next year on schedule, say news reports.

The

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