The country's tax revenue of 58 trillion yen last year decreased for the first time in three years. The impact of the new corona was behind the situation.
The tax revenue of the country last year was 58 trillion 441.5 billion yen, which was 1.7 trillion yen lower than the government estimate. Sales declined for the first time in 3 years against the backdrop of deterioration in corporate performance and a drop in consumption due to the impact of the new coronavirus.
According to a statement by the Ministry of Finance, tax revenue remained at 58,441.5 billion yen, which was 1,738.5 billion yen lower than the estimate as of December last year, due to the settlement of accounts in the general account of the country in the last fiscal year of the year of Reiwa.
This was a record decrease for the first time in 3 years, down 3.2% from the previous year's highest level.
Of this, the corporate tax was ¥10,077.1 billion, below the estimate by more than ¥900 billion due to the deterioration of corporate performance due to the effect of the new coronavirus.
In addition, the consumption tax that raised the tax rate in October last year was 18,352.7 billion yen, up 3.8% from the previous year, but due to the decline in consumption due to refraining from going out, etc. It's much less.
On the other hand, as the interest payments on JGBs were lower than expected due to the decline in interest rates, the “surplus” that remained without being used in the settlement of accounts was ¥685.2 billion.