Japan postpones an increase in sales tax

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Source: BBC

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.

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