Tax Revenue Hits Record High Of \60.4 Tril.


Tax revenue hits record high of \60.4 tril.

Japan's tax revenue for the fiscal year that ended in March hit an all-time high of over 560 billion dollars.

The figure exceeded an earlier official estimate. Sources close to government say revenue broke the previous record posted in fiscal 1990 during the economic bubble.

The figure presently stands at 60.4 trillion yen, or about 562 billion dollars.

Higher revenue from income tax was cited as a key factor. Strong corporate earnings pushed up income levels.

Government revenue is likely to climb even higher for the current fiscal year.

That's because of the planned consumption tax hike in October, from the current 8 percent to 10 percent.