Reuters: US Dollar Report: Japan to decide on sales tax hike schedule late Sept-econmin

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Japan to decide on sales tax hike schedule late Sept-econmin Aug 8th 2013, 02:17 TOKYO | Wed Aug 7, 2013 10:17pm EDT TOKYO Aug 8 (Reuters) - The Japanese government will make a decision on whether to raise the sales tax as planned in late September through early October, Economics Minister Akira Amari said on Friday. Raising the sales tax next year may not be the best option if the economy loses momentum, although the government will seek the best way to address challenges faced by Japan, he said in a news conference after a cabinet meeting. Japan plans to raise the sales tax to 8 percent from 5 percent in April next year, and to 10 percent in October 2015. But critics of the plan, worried about the damage to the economy, are calling for a delay or a more moderate increase in the tax rate.

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