Proposed direction for food consumption tax reduction to be 1% from April next year
⚡ Quick Summary
A proposal for a ``direction of coordination'' to be presented at a working-level meeting of the ``National Assembly'' regarding the reduction of consumption tax on food products has been revealed.
A proposal for a ``direction of coordination'' to be presented at a working-level meeting of the ``National Assembly'' regarding the reduction of consumption tax on food products has been revealed. The tax rate will be lowered to 1% for two years from April next year, and in order to provide generous support to middle- and low-income active workers, the government will provide income-linked benefits equivalent to the consumption tax rate of 1%, effectively reducing the tax rate to zero.
← Back