Abe to proceed with sales tax hike next October

Abe: We have to face the problems caused by our ageing society and build a welfare system that is fiscally sound. — Bloomberg

TOKYO: Japanese Prime Minister Shinzo Abe has pledged to go ahead with an increase in the national sales tax next October.

Abe said the government would consider tax breaks for durable goods purchases, such as cars and homes, and come up with a scheme to ease the burden on small companies and small retailers once the sales tax is raised to 10% from 8%.