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Cash register makers seek 1% food tax rate, citing extra time needed for 0% rate

The Japan Times·No Author·about 1 month ago
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#taxes#food#diet#iranwar#earthquakes#rate
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Some are calling for the food tax rate to be set at 1% instead of fully shelving the tax, so that changes needed for cash register systems becomes easier and require less time.

Some are calling for the food tax rate to be set at 1% instead of fully shelving the tax, so that changes needed for cash register systems becomes easier and require less time. | BLOOMBERG

The nonpartisan National Council on Social Security is discussing challenges over a planned consumption tax cut for food items, including when to introduce the step.

Although Prime Minister Sanae Takaichi aims to implement a two-year food tax rate reduction to 0% within fiscal 2026, it would take a year to make cash register systems compatible with a 0% tax rate.

Some are calling for implementing a tax rate of 1% instead of fully shelving the tax, so that the system updating process becomes easier. Others are proposing scrapping the tax cut plan altogether, which is regarded as a stopgap measure before introducing a refundable tax credit system.

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