210.8 B. Yen in Tax Money Wasted in Japan in FY 2020

Politics

Tokyo, Nov. 5 (Jiji Press)--The Japanese government wasted some 210,872.31 million yen in tax money in fiscal 2020, which ended in March this year, the Board of Audit of Japan said Friday.

The amount increased sharply from around 29.7 billion yen the previous year, despite the number of wasteful spending cases falling to 210, the lowest level since fiscal 1994, according to the board's report submitted to Prime Minister Fumio Kishida.

The decline in cases reflected restrictions on on-site inspections by staff due to the effects of the novel coronavirus epidemic.

The largest amount of improperly used tax money in a single case was 160.1 billion yen reported at the Finance Ministry. The board urged the ministry to sell 80 tons of gold ingots, with a book value of 160.1 billion yen, that was not slated to be used to produce commemorative coins.

The ministry sold the ingots to its Foreign Exchange Fund Special Account for 542 billion yen. It was the first time ever for the ministry to sell gold ingots, according to the ministry.

[Copyright The Jiji Press, Ltd.]

Jiji Press