The law imposes a five per cent Consumption Tax
on all expenditures made on products and services at the hospitality outlets in line with Section 2 of the Hotel Occupancy and Restaurant Consumption Law of June 2009.
Keywords: indirect taxation, consumption tax
, excise taxes, regressivity
Moreover, this economic revitalization scenario assumes a raise in the consumption tax
rate to 10% in April 2017.
Replacement of our current income tax system with a consumption tax
system would cause great disruption to the U.
He stressed that his basic policy was to raise the five percent consumption tax
to eight percent next year and then to 10 percent in 2015.
The government also raised the minimum lump-sum special consumption tax
on alcohol products.
Noting that the consumption tax
hike under deliberation at the House of Councillors is already "locked in," he said any hike in consumption tax
while maintaining the "ongoing complex and excessive taxes on autos, is unfair and discriminatory toward the car-owning public.
He assumes that a consumption tax
in the form of a VAT would be a new form of taxation, which would be added to all taxes already in existence.
The imposition of a 15 per cent point of consumption tax
on gross profits is designed to level the playing field, with offshore gaming operators requiring a licence from the Gambling Commission to operate in Britain, although Hawkswood does not believe the measure, set to be effective from 2014, will lead to firms relocating.
that raising the consumption tax
gradually, not immediately, beyond 2015 to say 15 percent, would be more in line with the tax rate in other countries," he said.
We must secure a stable financing source to support that, and that is the context the consumption tax
is being considered.
82 billion yen on a general account basis, amid higher individual income and consumption tax
receipts, the government said Thursday.
Specifically, the Committee considered the Fair Tax - a proposal to replace existing federal taxes with a national retail sales tax - and the Value-Added Tax (VAT), a type of consumption tax
used by many other countries as a supplement to other taxes, such as taxes on individual and corporate income.
China's state oil giants PetroChina and Sinopec have asked the government to cut fuel consumption tax
to reduce their refining losses, a report said.
The taxes are a complex mix of customs duties, special consumption tax
(SCT), general consumption tax
(GCT), environmental levy (ENVL), customs user fee (CUF) and other charges.