Japanese Finance Minister Sadakazu Tanigaki said on Sunday it would be best to decide on raising the country's consumption tax in the fiscal year starting next April.
There is heated debate in Japan over when and by how much the consumption tax - currently five percent - should be raised, which is seen as inevitable to cover soaring welfare costs as the country confronts a rapidly ageing population.
The consumption tax is similar to the value-added tax in other countries and is a politically sensitive issue.