TOKYO -- Japan's government and the ruling Liberal Democratic Party are likely to agree not to include specific dates of when to increase taxes to support defense budgets in the fiscal 2024 outline of a tax reform plan, Nikkei has learned. They are now leaning toward shelving a tax hike in 2025 and introducing it in 2026 or later.
Defense
Japan likely to put off raising taxes to build up defense until 2026
Kishida, ruling party lean toward leaving timing up in air, shelving 2025 tax hike
Japanese helicopter carrier JS Izumo makes a stop at Cam Ranh Bay in the Philippines on June 20. (Photo by Yuji Nitta)
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