After several weeks of deliberation, the Japanese government has decided to postpone an increase in its national consumption tax rate. An increase from 8 percent to 10 percent was scheduled to take effect in April 2017, but has now been postponed until October 2019 due to concerns that it could negatively impact Japan’s economy. More details on the decision are available from The New York Times.

Japan’s consumption tax was introduced in 1989 at an initial rate of 3 percent. The rate increased to 5 percent in 1997 and to 8 percent in April 2014.