Japan eyes tobacco tax hike to cover revenue shortfalls

The government is eyeing raising Japan's tobacco tax as part of efforts to cover revenue shortfalls as a result of lessened rates to be introduced when it raises the consumption tax, sources close to the matter said on Tuesday.The ruling coalition led by Prime Minister Shinzo Abe's Liberal Democratic Party staged a sweeping victory in Sunday's general election while pledging to boost spending on education and child care with funds to be secured from the consumption tax, which will be raised to 10 percent from 8 percent in October 2019.But the government is also set to introduce lessened rat…READ FULL ARTICLE