Editorial montage of Japanese flag and Japanese yen cash banknotes.
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Japan’s tax revenue is likely to hit a new high for the fifth consecutive year in the current fiscal year to March 2025, four government sources told Reuters.
The government will use the extra revenue to fund part of a 13.9 trillion yen ($91.7 billion) spending plan aimed at cushioning the blow to households from rising living costs.
Japan will also issue more than 6 trillion yen in new government debt, said people familiar with the matter, who declined to be named because the information is not public.
Sources said total nominal tax revenue for the current fiscal year, initially estimated at 69.6 trillion yen, is likely to rise to around 73.4 trillion yen due to strong corporate profits and rising inflation.
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