Local tax revenues to remain below planned levels for 5th yr.
Japan's local tax revenues are likely to fall short of their expected levels in fiscal 2001 for the fifth consecutive year of such shortfalls, government officials said Tuesday.
The officials at the Ministry of Public Management, Home Affairs, Posts and Telecommunications said the ministry had estimated the revenues from local taxes would amount at 35,581 billion yen for the current fiscal year.
But, calculating tax revenues as of Sept. 30, the annual revenues are likely to fall short of the estimated amount, they said, blaming the prolonged economic slump, which reduced revenues from residential taxes and other local taxes.
By tax segment, revenues from local income taxes, which were estimated to grow by 0.9% this year over the previous year, showed a drop of 1.3% as of Sept. 30 from a year earlier.
Those from local corporate taxes grew by 7.9%, outpacing their expected growth. But they are likely to decline from now on, the officials said.
Revenues from fixed assets and local consumption taxes all fell short of the estimated levels, they added.
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|Publication:||Japan Policy & Politics|
|Date:||Nov 26, 2001|
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