Tuesday October 1, 2019 - Japan hiked its consumption tax rate to 10% from 8%

  • Japan first introduced a 3% consumption tax in April 1989
  • was raised to 5% in 1997
  • to 8% in 2014

Its expected the hike will add around 4.6 trillion yen to the government's annual revenue.

Authorities will be closely watching for signs of negative impact of the hike and have boosted stimulus before the date.