ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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

Government panel drops reference to corporate tax from draft proposal

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

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 Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more