• Kyodo News


Total general-account tax revenue in fiscal 2009 will probably exceed the latest estimate of ¥36.9 trillion, mirroring the recent improvement in corporate earnings, Finance Minister Naoto Kan said Tuesday.

The administration reduced an earlier projection for tax revenue for the fiscal year that ended March 31 from ¥46.1 trillion after compiling a second extra budget for the year.

But Kan also said the final figure, to come out in early July, is unlikely to significantly exceed the projection.

“It is clear” that a figure less than the ¥40 trillion level would still be “extremely low,” he said, underscoring the need for the government to redouble efforts to rebuild its tattered finances.

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