Key Facts
• Japan’s national tax revenue reached 75 trillion yen in the last fiscal year.
• This marks the fifth consecutive year of record-breaking tax revenue.
• Fiscal year 2024 general account tax revenue totaled approximately 75.2 trillion yen.
• Revenue increased by over 3 trillion yen compared to the previous year’s 72.0761 trillion yen.
• Income tax exceeded expectations despite a 2 trillion yen reduction due to fixed tax cuts.
• Corporate tax rose due to strong business performance.
• Consumption tax increased, driven by rising import prices.
• Initial tax revenue estimate was 69.608 trillion yen, but final revenue exceeded it by 5.5 trillion yen.
• Surplus revenue is allocated to economic measures and government bond repayments.
Summary
Japan’s national tax revenue for the last fiscal year reached approximately 75.2 trillion yen, setting a record high for the fifth consecutive year. This figure surpassed the previous year’s revenue by over 3 trillion yen, driven by strong corporate performance and increased consumption tax due to higher import prices. Despite a 2 trillion yen reduction in income tax from fixed tax cuts, wage increases contributed to higher-than-expected income tax revenue. The final revenue exceeded the initial estimate by 5.5 trillion yen. The surplus will be used for economic measures and government bond repayments.
