Japan May Weigh Corporate Tax Hike to Boost Defense Budget

Japan is considering the possibility of raising corporate taxes as one of the options for channeling more resources into the defense budget, according to sources.

The reports come as Tokyo continues to look for ways to secure stable financing for increased defense spending in the period ahead.

A corporate tax increase, if implemented, would be one of the options under consideration by officials alongside other fiscal measures. However, the sources did not provide details on the size of any increase or the timing for implementation.

Japan's government has not made any official announcement on the matter.