4 July 2002, 09:27 Japan yr to March 2002 tax revenue 1.68 trln yen below forecast
TOKYO (AFX-ASIA) - The Ministry of Finance said the year to March 2002 tax
revenue came in at 47.94 trln yen, short of the projected 49.63 trln, according
to preliminary data.
The ministry said the shortfall reflected the fact that corporate tax
revenue was 935 bln yen less than expected due to the worsening of corporate
profitability. Corporate tax revenue totalled 10.26 trln yen in the year.
It said, however, that the government had payments from the Bank of Japan
which were 889.5 bln yen more than expected, which mainly comprised profits on
holdings of dollar and other foreign currencies gained through past market
intervention.
The ministry did not give a figure for the total Bank of Japan contribution.
It said that personal income tax revenue for salaried workers totalled 15.03
trln yen, compared with the forecast of 15.20 trln, while the self-employed
contribution was 2.78 trln, compared with the forecast of 2.92 trln.
Consumption tax revenue was 9.76 trln yen, compared with the forecast of
10.13 trln for the year.
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