Economy of Japan
The Japanese agricultural sector accounts for about 1.4% of the total country's GDP. Only 12% of Japan's land is suitable for cultivation. Due to this lack of arable land, a system of terraces is used to farm in small areas. This results in one of the world's highest levels of crop yields per unit area, with an overall agricultural self-sufficiency rate of about 50% on fewer than 56,000 km² (14 million acres) cultivated.
Economy of Japan
Japan has one of the smallest tax rates in the developed world. After deductions, the majority of workers are free from personal income taxes. Consumption tax rate is only 8%, while corporate tax rates are high, second highest corporate tax rate in the world, at 36.8%. However, the House of Representatives has passed a bill which will increase the consumption tax to 10% in October 2015. The government has also decided to reduce corporate tax and to phase out automobile tax.