TAX NEWS - 2010

Japan tax revenues beat forecast last fiscal year

TOKYO -- Japanese Finance Minister Yoshihiko Noda said Tuesday that the nation's tax revenues will likely be 1.9 trillion yen ($21 billion) more than previously expected in the fiscal year that ended in March, totalling 38.8 trillion yen, according to published reports. Noda addressed reporters at a regular news conference after a cabinet meeting.

Ministry figures also released Tuesday showed that the government sold a smaller amount of bonds than estimated last fiscal year. Due to the higher tax revenue, Japan's bond sales likely amounted to 52 trillion yen, 1.5 trillion yen less than forecast.