Society

Japan tax burden to remain high

Mar 02 (NHK) - Japanese employees and companies are expected to continue shouldering a relatively high ratio of taxes to income. Officials say that on average, 42.8 percent of income will go to taxes and social welfare premiums in fiscal 2019.

The Finance Ministry says the national burden ratio will likely remain the same as the previous year. It's expected to exceed 40 percent for the 6th year.

Officials predict that the tax burden will increase with the consumption tax hike in October. But they believe it will be offset by gains in individual and corporate incomes on the back of a gradual economic recovery.

The national burden ratio is a gauge to compare public burdens with other countries. Data from 2016 has shown that France's ratio was at 67.2 percent and Sweden at 58.8. The United States was at 33.1 percent.

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