Govt, ruling parties eye sales tax hike around 2015.

Govt, ruling parties eye sales tax hike around 2015

Yomiuri

The government and the ruling parties plan to raise the consumption tax rate by the mid-2010s, but cut tax rates for a three-year period before then, it has been learned.

The basic policy for a schedule to overhaul the tax system over the medium term will be included in a new economic stimulus package that the government and Liberal Democratic Party-New Komeito ruling bloc will release this week.

The government and the ruling parties will set an economic recovery period, beginning this fiscal year and running through fiscal 2010, to implement tax cuts. After this limited period, to …