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Politics

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.

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