Japan Tax Revenues Hit Record 84 T. Yen in FY 2025

Tokyo, July 3 (Jiji Press)--The Japanese government's tax revenues in fiscal 2025 rose 12.0 pct from the previous year to 84,222.6 billion yen, hitting a record high for the sixth consecutive year, the Finance Ministry said Friday.

General-account tax revenues in the fiscal year that ended in March exceeded the fiscal 2024 level of 75,232.1 billion yen by about 9 trillion yen, logging the largest increase on record. The growth reflected higher wages and corporate earnings, as well as a rise in the value of consumption amid inflation.

In fiscal 2025, revenue from all three major taxes--the income, consumption and corporate taxes--posted year-on-year growth.

Income tax revenue climbed 19.1 pct to 25,256.5 billion yen, thanks to the end of the fixed-amount income tax cut conducted in fiscal 2024, as well as higher employment income due to wage hikes. Tax revenue from financial income also increased, supported by rising interest rates and stock prices.

Consumption tax revenue rose 4.0 pct to a record 26,027.8 billion yen.

[Copyright The Jiji Press, Ltd.]