Japan weighs extra taxes for defense spending as early as April 2026

The government is considering increasing taxation as early as April 2026 to help cover its planned boost in defense spending, sources close to the matter said Wednesday.Prime Minister Shigeru Ishiba's government has already decided to raise revenue from corporate, income and tobacco taxes to help fund its plan to nearly double the nation's defense budget to 2 percent of gross domestic product.But the government has yet to finalize a timeline for the plan, having only said the additional taxation will come at an appropriate time in fiscal 2024 or later.It is looking to begin a scheme to impo…READ FULL ARTICLE