Japan

Sales tax bill passes final hurdle


Published

The upper house of the Japanese parliament or House of Councillors passed the controversial sales tax bill yesterday by 188 for and 49 against.

Opposition to the bill had seen six smaller parties in the parliament attempt a no confidence motion in Prime Minister Yoshihiko Noda earlier this week. However, the motion was not supported by the main opposition Liberal Democratic Party (LDP).

Support by the LDP for the sales tax bill does come at a price however. Prime Minister Noda is now expected to call an early general election at which his party will struggle to win a majority. The next general election was due to take place on or before Friday 30th August 2013.

Tagged with:

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com