Japan’s Tax Revenue Rises 17.9% in July

Tax revenues for the Japanese government jumped 17.9 percent in July from a year earlier to 5,498 billion yen as receipts from individual income tax rose due in part to growth in summer bonuses, the Finance Ministry said Monday.

Individual income tax revenue increased 15.8 percent to 3,342 billion yen, while that from consumption tax — whose rate was raised to 8 percent from 5 percent on April 1 — rose 17.5 percent to 1,184 billion yen.

Revenues from corporate income tax rose, but those from tobacco and alcohol taxes dropped against a backdrop of sluggish sales in such products following the first consumption tax hike in 17 years.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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