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Govt purse hits record high in fiscal ’18

Jiji Press TOKYO (Jiji Press)— The government’s general-account tax revenue in fiscal 2018 hit a record high of ¥60.356 trillion, the Finance Ministry said Tuesday.

The revenue, which had been estimated at ¥59.928 trillion, exceeded the previous record of ¥60.106 trillion marked in fiscal 1990 during the asset inflation-driven bubble economy era.

In fiscal 2017, the total national tax revenue was ¥58.788 trillion.

In fiscal 2018, which ended in March this year, income tax revenue logged a 24-year high of ¥19.9 trillion on the back of growth in salaries and dividends.

The income tax revenue was some ¥430 billion larger than expected.

Softbank Group Corp. made a one-off contribution to the income tax revenue growth, ministry officials said.

The company is believed to have paid some ¥400 billion in income tax on dividends obtained through the listing of mobile phone unit Softbank Corp. on the Tokyo Stock Exchange’s first section in December 2018.

Corporate tax and consumption tax revenues stood at ¥12.318 trillion and ¥17.68 trillion, respectively.

Both were larger than the previous year. But the consumption tax revenue fell short of the estimate of ¥17.823 trillion.

The overall national tax revenue rewrote its record high for the first time in 28 years.Speech

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