Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

IMF’s Cashin to Lift Consumption Tax Rate in Japan


June, 21 2018
watermark Economic news

An official from International Monetary Fund told Nikkei that Japan should boost its consumption tax rate to 15 percent and improve its health care and pension system to renew the fiscal health since the country’s aging population stimulates social security expenditure.


The nation’s public debt was unsustainable and estimated to multiply the gross domestic product (GDP), according to Paul Cashin who leads delegation for IMF's annual inspection to the Japanese economy.


According to an interview, Cashin requested for an additional increase in consumption tax rate by 0.5 to 1 point. He further mentioned that importance of tax in restoring public finances and warned that lifting the rates alone might not reach the expected gains in social security expenses.


In 2014, Japan had increased its consumption tax 8 percent and Abe administration plans to raise the rate by 10 percent again in 2019 after the delay in the increasing the initial target in 2017 amid issues on economic impact. While the IMF also did not approve the plans regarding lower rates in terms of foods and other product and urges for a uniform tax.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.