The Government Plans to Spend 111.8 Billion Yen on Measures Such as Supporting Cash Register Upgrades to Implement a 1% Reduction in Food Consumption Tax, Utilizing Reserve Funds From the 2026 Budget.

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The main topic of the extraordinary Diet session convened on October 5th will likely be the deliberation of related bills to reduce the consumption tax rate on food products to 1% for a limited period of two years. "Major opposition parties, such as the newly formed unified parliamentary group in the House of Representatives, the 'Centrist' party and the Democratic Party for the People, are demanding that the funding be shown..."

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On the 29th, the government announced that it would allocate approximately 111.8 billion yen from the 2026 fiscal year's reserve fund to prepare for the planned reduction of the consumption tax rate on food and beverages to 1% in April 2027...

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In preparation for the consumption tax reduction on food products starting in April 2027, the government has decided to spend 111.8 billion yen to support the modification of POS systems and other measures. Finance Minister Katayama: By utilizing these reserve funds, we will work in cooperation with relevant ministries to ensure a smooth implementation of the consumption tax rate reduction on food products. The government will spend approximatel…