Last year's national tax revenues exceeded the government's estimate as of December last year by more than 5 trillion yen, reaching a record high of more than 60.8 trillion yen.
Despite being affected by the new coronavirus, in addition to the so-called “needing demand”, corporate tax revenues have increased significantly due to the economic recovery in the United States and China.
According to the Ministry of Finance's announcement, last year's national tax revenues increased by 2,380.1 billion yen from the previous year to 60,821.6 billion yen.
Last year's tax revenue was estimated to be 55,125 billion yen, a decrease of more than 8 trillion yen from the initial budget estimate as of December last year, taking into account the impact of the spread of the new corona infection.
However, the tax revenue announced on the 5th exceeded this estimate by 5,696.6 billion yen, which was the highest ever, exceeding the highest amount in FY2018.
Although the Japanese economy was affected by the new coronavirus, the main factors were that corporate tax revenue increased by more than 3 trillion yen from the estimate due to the economic recovery in the United States and China, in addition to the “needing demand”.
In addition, the consumption tax has exceeded 20 trillion yen for the first time since its introduction, following the increase in the tax rate to 10% in October.
Along with this, the amount of new government bond issuance last year was suppressed by 4 trillion yen, but even so, the financial resources exceeding 100 trillion yen are covered by government bonds, and even if tax revenues increase, the deterioration of public finances will not be stopped. it is continuing.