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وكالة الأنباء القطرية
Japan reduces food tax to 1% for two years
The Japanese Cabinet has approved a plan to reduce the consumption tax on food and beverages from 8% to 1% for two years starting in April, as part of efforts to combat inflation and ease living costs. This is the first such measure since the tax system was implemented in 1989 and is expected to result in a revenue loss estimated at 10 trillion yen (about $63 billion). These funds are considered necessary to finance social security programs amid an aging population and rising healthcare costs. This relief is intended to be temporary, with the tax rate expected to return to its previous level once the support period ends, while providing assistance to small farmers and the restaurant sector to mitigate potential impacts.
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