Japan's Local Tax Revenue Hits Record High for 2nd Straight Year

Politics

Tokyo, July 12 (Jiji Press)--The combined tax revenue at local governments in Japan in fiscal 2018 is estimated to have risen 2.6 pct from the previous year to 41,956.3 billion yen, hitting a record high for the second straight year, the internal affairs ministry said Friday.

Brisk earnings at companies in the year that ended in March sharply pushed up incomes from corporate taxes, ministry officials said.

According to the ministry's preliminary estimates, resident tax revenue grew 0.9 pct to 12,938.8 billion yen, due to a salary income rise, while incomes from corporate enterprise and inhabitant taxes jumped 8.0 pct to 6,752.7 billion yen.

Including revenue from a special business levy aimed at bridging income gaps between local governments, corporate tax revenues came to 8,839.2 billion yen, up 9.2 pct.

Consumption tax income went up 1.7 pct to 4,815.5 billion yen, thanks to firm consumer spending, and revenue from fixed asset tax increased 0.7 pct to 8,972.0 billion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press