Japan Tax Revenue Believed to Have Hit Record High for 6th Year

Tokyo, July 2 (Jiji Press)–The Japanese government’s general-account tax revenue for fiscal 2025, which ended in March, is believed to have reached around 84.2 trillion yen, setting a record high for the sixth consecutive year, it was learned on Thursday. This figure is up from the fiscal 2024 total of 75.2 trillion yen, reflecting strong corporate earnings, as well as wage and price increases. The Finance Ministry will shortly release official figures. When compiling its fiscal 2025 initial budget, the government projected 77.8 trillion yen in tax revenue for the year. The figure was revised upward to 80.7 trillion yen when a supplementary budget was enacted in December. The actual total is now estimated to exceed the revised figure by 3.5 trillion yen. The estimated breakdown of fiscal 2025 tax revenue includes 21.7 trillion yen from corporate taxes, 25.3 trillion yen from income taxes, and 26.0 trillion yen from consumption taxes. Meanwhile, nontax revenue is forecast at 10.7 trillion yen, reflecting an increase in payments from the Bank of Japan to the national treasury. END [Copyright The Jiji Press, Ltd.]