Japan's tax receipts in fiscal 2000 are likely to exceed the government's projection for the second straight year and may top 50 trillion yen for the first time in three years, due to increased corporate tax revenues, Finance Ministry data released Thursday showed.
The Finance Ministry said cumulative revenues through November from the start of this fiscal year in April came to 25.044 trillion yen, accounting for 50.2 percent of the projected tax revenues for the entire fiscal year of 49.859 trillion yen.
In fiscal 1999, which saw no tax revenue shortfall for the first time in three years, the tally in the April-November period accounted for 48.9 percent of the projected tax revenues.
Tax revenues, notably corporate tax receipts, in the current fiscal year have been on the increase as the nation's economy gradually recovers. Corporate tax revenue in the April-November period rose 16.4 percent from the same period last year to 4.723 trillion yen.
The nation's tax revenues fell below 50 trillion yen in fiscal 1998 and 1999 after hitting a record 60.1 trillion yen in fiscal 1990.
In November alone, tax receipts rose 8.2 percent from a year earlier to 7.359 trillion yen, for the seventh straight monthly increase, the ministry said.
Revenue from income tax rose 25.3 percent to 1.613.82 trillion yen, with the amount deducted from company paychecks rising 35.4 percent to 1.166 trillion yen. Revenue from declared income tax rose 4.8 percent to 447.70 billion yen. Corporate tax revenue increased 7.8 percent to 3.129 trillion yen, while consumption tax revenue rose 1.3 percent to 1.721 trillion yen.