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JAPAN

Ruling party plans tax hike

28 Nov 2008. The ruling Liberal Democratic Party (LDP) plans to push for a tobacco tax hike for fiscal 2009 starting in April, reported the Japan Times on Thursday.

A tax increase of JPY 3 (EUR 0.025) per cigarette is one of many tax reform recommendations for the next fiscal year. It would be the first hike on tobacco since fiscal 2006, and it would raise the price of a pack of cigarettes by around JPY 60.

According to party sources, the LDP is looking to allocate some of the additional revenue to tobacco farmers, who will likely be hit by a slump in tobacco consumption. (pi)