Japan to Increase VAT to 8% !

Japan is to increase its version of consumption tax, or VAT, from 5% to 8% next year. The Japanese action to strengthen it finances, and international confidence in its economy, was welcomed by the OECD which is urging a further raise up to 10% by 2015.

There are a few parallels between the UK and Japan economically. Most tax fans can only dream of 8% VAT and so wonder if the UK government is really getting the best from all the money its takes from a 20% rate. Answers on the back of a postage stamp please.

Eamon McNicholas
Tax Barrister, Accountant

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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