TOKYO, Oct 9 (Bernama-Kyodo) -- Japan's Cabinet on Friday approved a bill to temporarily cut the consumption tax on food and drink and implement an income-linked cash benefit system for lower earners, with an eye to securing its passage during the current Diet session, Kyodo News reported.
World : Japan Cabinet Approves Bill For First Consumption Tax Cut On Food And Drinks
Japan, tax, economy, Asia-Pacific
BE Bernama 
Key takeaways
Japan's Cabinet approved a bill to cut consumption tax on food and drinks to 1% for two years and introduce income-linked cash benefits.
- The tax cut on food and drinks will last two years, reducing from 8% to 1%.
- The government aims to pass the bill during the current Diet session through Dec 12.
- Concerns remain over funding sources and potential impacts on local government finances.
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