On 2 August 2016, Japan's Liberal Democratic Party published an outline of measures to be included in legislation submitted to the National Diet (legislature) in the fall concerning the consumption tax increase and the shift in local taxes.
Consumption Tax Increase
The increase in the consumption tax from 8% to 10%, which has already been delayed to 1 April 2017, will be further delayed to 1 October 2019. Along with the delayed increase, the introduction of multiple rates will also be del…