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Japan FY 2018 corporate income hits record 73 T. yen

  • October 17, 2019
  • , Jiji Press , 7:02 p.m.
  • English Press

Tokyo, Oct. 17 (Jiji Press)–Income declared by companies across Japan for fiscal 2018 grew 3.7 pct from the previous year to a record 73,386.5 billion yen, up for the ninth consecutive year, the National Tax Agency said Thursday.

Tax revenue from the declared income increased 2.6 pct to 12,792.2 billion yen. But the amount is about 5.8 trillion yen less than the fiscal 1989 peak since tax rates have been cut gradually.

Income reports from profitable companies accounted for 34.7 pct of the total of 2,929,000 declarations, with the proportion rising for the eighth straight year.

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