Abe delays sales tax hike to October 2019
Tokyo
JAPANESE Prime Minister Shinzo Abe announced a widely anticipated and controversial decision on Wednesday to delay by two-and-a-half years to October 2019 a further hike in Japan's national consumption tax which had been due to take effect on April 1 next year.
"We have decided to postpone the consumption tax hike that could hurt domestic demand," Mr Abe told a press conference on Wednesday evening. With an upper house election looming next month, Mr Abe could now enjoy a boost in popularity by his decision to delay hiking the unpopular tax, analysts said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal