• Kyodo News


General account tax revenues in August plunged 33.5 percent to ¥2.467 trillion compared with the previous year, the Finance Ministry said Thursday, citing steep drops in corporate profits and incomes amid the recession.

Corporate tax refunds exceeded revenues by ¥332.76 billion in August, the first time this has occurred since 1960, which is as far back as the ministry has checked, an official said.

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