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Mix-Ansicht- Japan: Steueraufkommen FY04 - zani, 13.01.2004, 10:43
- J: the budget will result in a further worsening of J's fiscal situation - zani, 13.01.2004, 11:10
Japan: Steueraufkommen FY04
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Govt sees tax revenues falling 9 bil. yen in FY04
Yomiuri Shimbun
The central government's tax revenues for fiscal 2004 are forecast to fall by 9 billion yen, while local tax revenues are expected to grow by 22.5 billion yen after the transfer of tax sources from the central to local governments, according to a Finance Ministry estimate.
Out of the estimated national tax revenue decline of 434 billion yen, revenue sources totaling 425 billion yen will be transferred to local governments, which will result in a reduction of 9 billion yen for the central government.
Overall local tax revenue will grow by 22.5 billion yen next fiscal year starting April 1, after the equally divided individual residential tax is unified, raising the revenue by 18.9 billion yen.
Tax reforms for next fiscal year are expected to raise tax revenues by 13.5 billion yen for central and local governments. National tax revenues are predicted to grow by enforcing taxation on pensions and rationalizing corporate special tax programs, such as downsizing the special redemption system. Corporate tax revenues are seen falling after the surtax on companies adopting the consolidated tax payment system is scrapped.
<ul> ~ Tax revenues</ul>
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