Japan's tax revenue hits record 60.36 tril. yen in FY 2018
Japan Today -- Jul 03
Japan's tax revenue hit a record 60.36 trillion yen ($557 billion) in fiscal 2018 on the back of higher wages and dividend payments, the Finance Ministry said Tuesday.

Tax revenue in the year through March increased 2.7 percent from a year earlier, surpassing a government estimate of 59.93 trillion yen, according to the ministry.

The previous highest amount of tax revenue collected came in fiscal 1990, at the end of the country's asset-inflated bubble economy, when the level was 60.11 trillion.

Following the global financial crisis in 2008, revenue plunged to 38.73 trillion yen in fiscal 2009, its lowest level in the post-bubble economy period.

In fiscal 2019, the government expects tax revenue of 62.50 trillion yen as a result of the planned consumption tax increase to 10 percent from the current 8 percent in October.

But it is uncertain whether corporate earnings, an important component of the entire tax revenue, will continue to grow amid escalating U.S.-China trade tensions.

News source: Japan Today
Aug 11
Japan's Emperor Naruhito and Empress Masako have held talks with the top disarmament affairs official of the United Nations. (NHK)
Aug 10
Japanese Prime Minister Abe Shinzo says he will work to prevent the elderly and other vulnerable people from contracting the coronavirus to avoid declaring another state of emergency. (NHK)
Aug 07
The governor of Tokyo has called on residents to refrain from traveling to other prefectures during the summer holiday season, amid the continued rise in numbers of coronavirus infections in the capital. (NHK)
Aug 07
The Cabinet on Friday earmarked ¥1.13 trillion in reserve funds to continue measures to cushion the impact of the coronavirus pandemic. (Japan Times)
Aug 07
Kanagawa Prefectural Police arrested an assemblyman for Tokyo’s Minato Ward on suspicion of indecent exposure in Kawasaki City on Thursday, reports NHK (Aug. 6). (tokyoreporter.com)
Aug 06
Japanese holidaymakers should refrain from domestic travel and regional governments should act independently to contain a resurgence of coronavirus infections, the country's top doctors' association said on Wednesday. (Japan Today)
Aug 06
Japanese drugstores were stripped bare of gargling solution by Wednesday, a day after the governor of Osaka Prefecture suggested it could help fight coronavirus, triggering panicked buying reminiscent of the early days of mask shortages. (Japan Today)
Aug 05
Japan’s labour ministry is working to extend a special employment subsidy to help firms hit by the coronavirus pandemic that would keep furloughed workers on the payroll, the Nikkei business daily reported on Wednesday. (Reuters)
Aug 05
Japan’s tally of virus infections is shooting up faster than ever, and support for Prime Minister Shinzo Abe is sinking to new lows. (Bloomberg)
Aug 05
The western Japanese city of Kobe has made its official TikTok account private amid growing security concerns, Nikkei has learned, in a sign of how the U.S. crackdown on the Chinese owner of the popular video-sharing app is rippling across the world. (Nikkei)