TOKYO – Japan's tax revenues are likely to hit a record high for a fifth straight year in the current fiscal year ending in March 2025, four government sources told Reuters.
TOKYO – Japan 's tax revenues are likely to hit a record high for a fifth straight year in the current fiscal year ending in March 2025, four government sources told Reuters.The government will tap the additional revenues to fund part of a 13.9-trillion-yen spending package aimed at cushioning the blow to households from rising living costs.It will also issue new government debt exceeding 6 trillion yen, the sources said, declining to be identified because the information is not public.
4 trillion yen due to robust corporate profits and rising inflation, they added.Prime Minister Shigeru Ishiba announced last week a plan to compile the spending package, which includes fuel subsidies and payouts to low-income households to deal with increasing prices.The government is expected to finalize on Friday a supplementary budget for the current fiscal year to fund the stimulus measures.
To Reap Record 2024 Tax Revenue
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