Rate System: Percent and Tax

rate system: Abe's government raised the tax for the first time since April 2014 to address swelling social security costs resulting from the country's graying population and falling birthrate, according to The Japan Times. The survey showed 43.4 percent said they viewed the tax hike positively while 49.4 percent did not. In the nationwide telephone poll conducted over the weekend, 70.9 percent said they are either worried or worried to a certain extent about a possible negative impact on the economy from the tax increase from 8 percent to 10 percent on Oct. 1. ; The disapproval rate stood at 34.2 percent, up 8.5 points from September, according to the survey. The government introduced a two-tier rate system for the first time, exempting food and beverage items from the increased rate in a bid to cushion the impact on consumer spending. The survey found 24.6 percent have reduced spending following the tax increase while 74.9 percent did not. In the survey, 82.4 percent view the two-rate taxation system as complicated. (news.financializer.com). As reported in the news.