News Ticker

Foreign Tourists to Benefit from Revised Consumption-Tax Exemption

xmas-taxbreak-jp.jpg

Carrying recently purchased merchandise, tourists from China wait for their buses in Tokyo’s Ginza shopping district. | KYODO

Senior members of the ruling Liberal Democratic Party’s tax panel agreed on Wednesday to overhaul the current consumption tax exemption program for foreign visitors, in order to boost tourism-related spending in the country.

Foreign visitors are currently allowed to use the tax-break program only if their purchases in each of two categories — “general goods” such as electric appliances and “consumable goods” like food and cosmetics — total ¥5,000 or more.

Under the revised program, purchases that reach ¥5,000 in value by visitors from abroad would be exempt from the 8 percent consumption tax regardless of product categories, according to the plan agreed at a meeting of the executives of the Research Commission on the Tax System.

The meeting was held for discussions on tax reform requests from government agencies.

The revamped consumption tax relief program will be … (read more)

Source: The Japan Times

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: