Japan Tax Revenue in 2012 was a 4 Year High

Japan’s tax revenue for fiscal 2012 totaled 43.93 trillion yen ($440.7 billion), the highest since fiscal 2008 when the global financial crisis started to weigh on the country’s economy, the Finance Ministry said Wednesday.

Tax revenue for the year ended this past March rose 2.6 percent from the previous year and exceeded the government’s earlier estimate of 42.61 trillion yen, announced when it compiled a supplementary budget for the last fiscal year in January.

The nation’s overall tax revenue increased due mainly to growth in corporate tax, as company earnings were spurred by the weaker yen and bolstered by higher returns from stock investments amid Prime Minister Shinzo Abe’s economic policies dubbed “Abenomics,” centering on drastic monetary easing, a ministry official said.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza