Japan to Pay Part of Income-Linked Benefits in April 2029
Tokyo, Sept. 6 (Jiji Press)--The Japanese government is considering making part of payments under a planned income-linked benefit program in April 2029, it was learned Sunday. The financial aid program is planned to be introduced in earnest in fiscal 2029, and the portion that may be paid in April 2029 would be part of the benefits for the fiscal year starting that month. The move is int...
Tokyo, September 6 - The Japanese government is contemplating an April 2029 payment for part of its planned income-linked benefit program, according to recent reports. This initiative, set to commence in fiscal 2029, aims to alleviate household financial strain following the anticipated rise in the consumption tax rate for food, which is currently under consideration for reduction from 8 percent to 1 percent for a two-year period.
The duration of this tax cut is intended to serve as a temporary measure until the official launch of the income-linked benefit program. The remaining fiscal 2029 benefits are expected to be disbursed around September 2029, as per informed sources. Should local governments endorse this two-phase payment approach, entailing added administrative workload, the central government and the ruling coalition intend to incorporate this into an upcoming tax reform package focusing on the consumption tax cut, which is anticipated to be finalized soon.
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