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Japan's parliament passed a law that prohibits the sale, suggesting consumer tax return
The Japanese parliament passed a law prohibiting retailers stimulate sales growth, which involves the consumption tax refund to buyers after the increase in the tax rate, scheduled for the next fiscal year.
The Japanese government plans to raise the consumption tax from three to eight per cent in April next year.
On Wednesday, at a plenary session of the upper house of parliament passed a law for a smooth transition to the higher rate of tax.
Under the law, retailers are prohibited price decline in the amount equivalent to the increase in the consumption tax rate.
The government intends to submit specific recommendations to retailers.