Japan Approves Transportation Fare Increases Ahead of Sales Tax

Japan’s transport ministry on Tuesday approved fare increases proposed by 60 railway companies and 196 bus operators ahead of the upcoming consumption tax hike.

Almost all of the companies are set to raise their fares by about 3 percent on April 1, when the sales tax rate moves up to 8 percent from the current 5 percent.

Apart from six companies, including subway operators in Tokyo and Yokohama, all of the train and bus operators will introduce their revised fares on April 1, according to a press release by the Ministry of Land, Infrastructure, Transport and Tourism.

There will be some differences in charges between passengers with regular tickets and those who use integrated circuit cards, so the ministry has called on companies that introduce different rates to let passengers know by using posters and brochures.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza