Economy

Japan finance minister says no tax cuts for time being to counter pandemic

imageEconomy10 hours ago (May 12, 2020 03:50AM ET)

(C) Reuters. Japanese Finance Minister Taro Aso takes questions from reporters at the annual meetings of the International Monetary Fund and World Bank in Washington

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Tuesday he was not considering tax cuts, including a reduction in the sales tax, for the time being as a way of easing the economic pain from the coronavirus pandemic.

“Japan’s fiscal condition is in a severe state and will likely turn more dire due to the pandemic,” Aso told parliament.

“Cutting tax isn’t something I have in mind for the time being,” Aso said, when asked by a lawmaker whether the government could cut tax as part of efforts to support an economy suffering from the fallout of the pandemic.

Japan finance minister says no tax cuts for time being to counter pandemic

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