46 Prefectures Expect Tax Revenue Growth in FY 2022
Tokyo, Feb. 23 (Jiji Press)--All of Japan's 47 prefectures but one expect tax revenue growth in fiscal 2022, led by projected corporate tax revenue increases thanks to brisk corporate earnings, a Jiji Press survey shows.
The bullish projections, included in their regular general-account budget proposals, make a contrast with the previous year's forecasts in which all 47 prefectures braced for tax revenue falls because of the novel coronavirus crisis.
Nagasaki is the only one that has not published its fiscal 2022 draft budget. The southwestern prefecture had a gubernatorial election Sunday.
In 33 of the 46 prefectures, the amounts of planned spending in their budget proposals are larger than those envisioned in the fiscal 2021 regular budgets.
All 46 prefectures project double-digit growth in corporate tax revenues.
[Copyright The Jiji Press, Ltd.]