Fri, 30 Dec 2011 12:28:36 GMT
Japan postpones an increase in sales tax
Japan's leading party, the DPJ, agreed to put on hold an
increase of the sales tax as the opposition expressed strong protest to the
move. The party agreed to postpone 8% tax increase due April 2013 until April
2014. The measure pursues the improvement of country's finances amid increasing
debt level. Japan has the highest portion of debt to the GDP among the
developed countries.