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A year after the income tax rate increased from 8% to 10%, the country’s finances continue to worsen due to the economic slowdown caused by the pandemic.
Income tax is seen as a solid source of funding to reduce payroll taxes. birth rate.
In the government’s overall account, admission tax revenue in fiscal year 2019, which ended in March this year, increased by 700 billion yen compared to 18. 4 trillion yen last year thanks to a 2 percentage point increase on October 1. However, income was unsuccessful at the expected point of 19. 1 trillion yen due to slow intake, while fears about coronavirus increased starting this year.
Its overall tax benefit for the year, adding up the source of profits and corporate taxes, fell 1. 9 trillion yen a year to 58. 4 trillion yen.
The government expects general tax revenue of 63. 5 billion yen by fiscal 2020, however, the actual figure is likely to be lower than that due to the consequences of coronavirus.
It is noted that the gap between spending and profit in fiscal year 2020, which rose to 160. 3 trillion yen after the adoption of an additional budget for the year to finance economic stimulus, is unprecedented success.
Even after the accumulation in the entrance tax, the rate remains at 8, consistent with the penny for takeaways, while the rate is consistent with the penny for foods consumed locally.
The resulting confusion of the two food tax rates has disappeared as store personnel and consumers have become accustomed to the system. An official at the operator of a giant convenience store said there had been no primary disruption so far.
Many retail establishments have begun to accumulate bento tails and other food products that can be carried or delivered as they are subject to the 8% tax rate.
However, retailers were forced to temporarily suspend their operations or open for less hours before this year due to the pandemic.
“The consequences of coronavirus have far outweighed the effect of higher taxes,” said an official at a chain of primary restaurants.
Although other people’s requests to stay at home have been reduced in reaction to the outbreak, consumers have been slow to return to restaurants and other stores.
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