Japan’s government and ruling parties are considering implementing a planned increase in income tax to fund defense spending from 2027, the Asahi newspaper reports, without attribution.
- Actual tax rate will remain unchanged for the time being, as a surtax for reconstruction efforts from the 2011 earthquake will be lowered by the same amount
- NOTE: The government last year proposed increasing income tax starting January 2027, but the Liberal Democratic Party and then-coalition partner Komeito later said the timing would be decided at a later date
- Related Stories:
Hegseth Calls Japan’s Defense Spending Plans ‘Wonderful’ Japan Ruling Parties Delay Income Tax ...