By Roger Chartier

United States of America IRS Tax Information

When Roger has some spare time, he posts here. Good articles!


Japan - Doubled it's sales tax rate

Prime Minister of Japan 8-11-2012 -

Oh, the pain of spending and the tax rate that will come from it!
Prime Minister Yoshihiko Noda on right.

Well, back in 2012 Japan's parliament passed a new tax rate for sales to the people of their country.
It had already doubled in the year 2015.

The country now has an unusually high debt as compared to other countries in the world as it is.

This will add to the difficulty for people to buy what they need as well as for folks with a little bit of extra cash to go shopping for some new trivialities.

Not enough money coming in

The Japanese government isn't gaining in money right now, and this won't even stop the slide down but just slow it.

Japan has a large social-welfare spending bubble. The country now had a 5% sales tax as of the past vote to raise it up in 1997, and it became 10% in 2015.

You can't make money from thin air, unless you print more of it as a lot of countries have done in the past, to solve a financial crisis.

The tax was up to 8% in year 2014 and then the 10% came in 2015.

The big promise

The Prime Minister Noda pushed this through the government bodies by making a promise to dissolve his current lower house soon as a trade off for their vote to endorse this measure.

Right after this vote somewhere between 4,000 and 90,000 protesters rallied just at the door of the Prime Minister's office. They do not want nuclear facilities to re-open as of yesterday as it now stands.

The numbers are varied depending who you ask about the situation.

As it stands in Japan exporting goods is more expensive, and people feel that the tax will hurt this even more than it does already.

Prime Minister Yoshihiko Noda had made a promise in trade for this vote to have another election and this is something that can effect his parties three year rule.

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