Japan is considering freezing its food consumption tax.

VTV.vn - Japanese Prime Minister Sanae Takaichi has just announced that he will push forward with the plan to freeze consumption tax on food as soon as possible.

Japan is considering freezing its food consumption tax.

In a separate parliamentary debate with opposition party leaders on May 20, Japanese Prime Minister Sanae Takaichi said she wanted to implement a "freeze" on consumption tax on food products "as soon as possible," despite concerns about the nation's finances amid the conflict in the Middle East.

The Japanese Prime Minister emphasized his commitment to his campaign promise to reduce tax rates on designated items (such as food and beverages) from 8% to 1% or 0% for two years before replacing them with a refundable tax credit system.

Ms. Takaichi also said the government would do its utmost to limit bond issuance to support citizens, as her administration plans to draft a supplemental budget amid concerns that the conflict could have a lasting economic impact. Her remarks came as Japanese government bond yields rose, partly reflecting market expectations of rising inflation in the resource-scarce nation and a worsening financial situation.

On May 18, Ms. Takaichi informed the ruling parties that she had requested a review of the supplementary budget, just over a month after approving a record 122.31 trillion yen (US$769 billion) budget for fiscal year 2026. She also indicated she would seriously consider proposals from the head of the Democratic Party for the People, Yuichiro Tamaki, regarding the cessation of subsidies to keep gasoline prices below 170 yen per liter at gas stations. This policy, which is scheduled to restart in mid-March 2026, is expected to use up its allocated 1 trillion yen by the end of June.

Source: https://vtv.vn/nhat-ban-xem-xet-dong-bang-thue-tieu-thu-thuc-pham-100260521110101628.htm