Tax revenues could reach 49 trillion yen in fiscal 2005, about 2 trillion yen more than previously forecast, thanks to the continuing economic recovery, Finance Ministry sources said Thursday.
If revenues top 49 trillion yen, it would be the government's highest tax haul in five years, surpassing the initial budget estimate of 44 trillion yen and a revised forecast of 47 trillion yen in February.
The expected increase in full-year tax revenue stems from 1 trillion yen growth in income tax revenue and revenues gained from customs, reflecting in part an increase in stock dividend capital gains incomes on rises in Japanese share prices in the reporting year, Finance Ministry officials said.