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(Update) Japan Tax Revenues Hit Record 72 T. Yen in FY 2023

(Update) Japan Tax Revenues Hit Record 72 T. Yen in FY 2023

   Tokyo, July 3 (Jiji Press)--The Japanese government's tax revenues totaled 72,076.1 billion yen in fiscal 2023, hitting a record high for the fourth consecutive year, the Finance Ministry said Wednesday.
   The general-account tax revenues for the year that ended in March had been estimated at 69,611 billion yen.
   But they surpassed the previous all-time high of 71,137.4 billion yen, marked in fiscal 2022, as corporate tax revenue jumped thanks to robust earnings at a number of companies amid the yen's historic depreciation.
   Revenues from all three core taxes--income tax, corporate tax and consumption tax--topped the government's projections as of November last year.
   Corporate tax revenues climbed by 920.8 billion yen to 15,860.6 billion yen, the highest level since fiscal 1991, when the figure stood at 16,595.1 billion yen. In May this year, such revenues increased 1.4-fold from a year before thanks to a rise in taxes paid by companies that closed their books in March.

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AFP-JIJI PRESS NEWS JOURNAL


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