Japan faces tax battle as DPJ finishes plan on sales levy
World BusinessMar 28, 2012
Japanese Prime Minister Yoshihiko Noda’s ruling party completed its plan to double the nation’s consumption tax, clearing the way for the Cabinet to approve the legislation and submit it to parliament. The Democratic Party of Japan decided early this morning on the bill’s wording, which states the levy could be halted in the event of “drastic” economic changes. The Cabinet is scheduled on March 30 to approve the measure, which would raise the sales levy to 8 percent in April 2014 and 10 percent