FY 2008 tax revenues to fall below forecast by over 2 trillion yen+

TOKYO, June 22 Kyodo -
Japan's tax revenues for fiscal 2008 are estimated to have totaled about 44
trillion yen, falling below the government's latest projection by over 2
trillion yen, due largely to a decline in corporate tax revenues, government
sources said Monday.
The total amount of tax revenues is expected to be the lowest level since
fiscal 2003 when the total came to about 43.3 trillion yen.
In December, the government revised its tax revenue projection downward to
46,429 billion yen from the initial target of about 53,554 billion yen at the
time the second extra budget for fiscal 2008 was put together, as many Japanese
companies' business conditions have deteriorated rapidly since the global
recession deepened last fall.
Corporate tax revenues alone are estimated to have fallen below the
government's initial target by over 9 trillion yen, the sources said.
The Finance Ministry will finalize Japan's tax revenues for fiscal 2008 through
March in early July after corporate taxes are collected in May from companies
that closed their annual books on March 31.
==Kyodo
2009-06-22 23:45:46