CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Japan's 2014/15 Annual Tax Revenue Jumps 15 Percent

Japan's 2014/15 Annual Tax Revenue Jumps 15 Percent

by Mary Swire, Tax-News.com, Hong Kong

07 July 2015


Japan's Finance Ministry has confirmed that the country's total tax revenue in the 2014 fiscal year (FY) increased to its highest level for 21 years, driven by a rise in both consumption and income tax collections.

Tax collected in FY2014, which ended on March 31, 2015, reached almost JPY54 trillion (USD440bn). This was a rise of 14.9 percent, or some JPY7 trillion, over its value in FY2013, and represented Japan's fifth consecutive year of tax revenue increases. It was also a JPY2.2 trillion rise over government estimates made in January this year.

The greatest portion of the tax revenue rise was found from a 48 percent boost in consumption tax receipts to JPY16 trillion following the increase in the tax rate to eight percent from five percent in April 2014, and also as a result of higher tourist spending.

However, both corporate and individual income tax revenues also showed significant rises. The former, boosted by additional business profitability, increased by 5.1 percent to JPY11 trillion, while individual income tax revenue showed an 8.1 percent increase at JPY16.7 trillion.

TAGS: individuals | tax | business | value added tax (VAT) | sales tax | corporation tax | revenue statistics | individual income tax | Japan | Tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »