Japan eyes 'wide range of tax rises' to fund defense budget hike

Government panel drops reference to corporate tax from draft proposal

20221122 Japan SDF tanks

Tanks take part in Self-Defense Force military exercises in Kyushu, in southwestern Japan, in November 2020. (Photo by Shinya Sawai)

RYO NEMOTO, Nikkei staff writer

TOKYO -- A "broad range of tax rises" will be necessary to fund the increase in Japan's defense budget where spending reforms fall short, a government panel of experts said in a report submitted to Prime Minister Fumio Kishida on Tuesday.

While the draft seen by Nikkei earlier in the month listed corporate tax hikes as a source of funding, these were removed from the final version, with no other specific taxes mentioned.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.