The government likely will raise the consumption tax rate further in fiscal 2016 after hiking it from the current 5 percent to 10 percent in two steps, it was learned Wednesday.
The gist of bills to raise the consumption tax rate, which the government aims to submit to the Diet this month, says the rate will be raised to 8 percent in April 2014 and 10 percent in October 2015.
(Yomiuri)
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