Is Japanese consumption tax high or low?
Today I'm talking about Japanese consumption tax.
First, I tell you the consumption tax history in Japanese
Apr. 1989~ ３％
Apr. 1997~ ５％
Apr. 2014~ ８％
Oct. 2019~ Standard tax rate10 ％
Reduced tax rate ８％
It's gradually increasing .
What's difference between Standard and Reduced ?
In Japan today, there are 10% taxable products and 8% taxable ones.
For example, groceries are 8% excluding alcohol and eating out
In addition, up to 2020/06/30, 2~5% will be returned if you make a cashless payment!
It's a great deal if we know that.
But in the world, is this consumption tax high or low?
It ’s still cheaper than the world
Today, the highest is 27% in Hungary
and the lowest is 5% in Taiwan or Canada
Is that so.
So Japanese taxes are cheap.
Consumption taxes are cheap, but other taxes are quite high.
I'll talk about that again.