Uncertainty about tax revenues is causing concern about how Japan will pay for an expansion in its defense budget the government believes is necessary to deal with threats from an aggressive China and North Korea’s deepened military ties with Russia.
In late 2022, the government decided to spend around 43 trillion yen ($272 billion) over five years through fiscal 2027 to bolster national security. It also planned to collect 1 trillion yen as of fiscal 2027 through higher income, corporate and tobacco taxes to help fund the cost.
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