21:41 - 30.07.2026

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July 30, Fineko/abc.az. Japanese authorities are planning a two-year reduction of the consumption tax on food items from 8% to 1% starting April 2027, alongside cash payouts for low-income households to effectively neutralize their tax burden.

The initiative is estimated to cause a revenue shortfall of approximately ¥10 trillion ($61 billion), with no offset sources specified yet. The proposal has already drawn sharp criticism from opposition leaders as well as prominent members of the ruling party, including Taro Kono.