Corporate Income Reaches Record High in Fiscal 2021
12:30 JST, April 1, 2023
TOKYO (Jiji Press) — Taxable corporate income in Japan in fiscal 2021 reached a record high of ¥75,580.8 billion, a National Tax Agency survey showed Thursday.
Taxable income at companies in the country that closed annual books in the year through March 2022 grew 18.5% from a year earlier to top the previous record of ¥69,745.6 billion marked in fiscal 2018, indicating corporate earnings’ recovery from a slump caused by the coronavirus crisis.
The amount of corporate tax collected for fiscal 2021 totaled ¥13,246.4 billion, up also 18.5%. But it came significantly lower than the all-time high of ¥17,748.4 billion logged in 1990, because of substantial tax cuts.
Those income figures were estimated based on tax returns filed by about 2.11 million companies nationwide.
"BUSINESS" POPULAR ARTICLE
Japan’s Economy Contracts as Demand Wanes
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
3 Japan Railway Firms to Introduce System to Pay Fare by Tapping Credit Card at Ticket Gates
Suntory’s Hibiki Whiskey Price Planned to Increase by 125％; Demand Higher than Production
Energy Challenges / High Electricity Bills Overshadow Digitalization in Japan
JN ACCESS RANKING
- Japan’s Economy Contracts as Demand Wanes
- AI-generated Child Porn Floods Japan-based Website (Update 1)
- Bears Sighted in Tokyo Suburbs, Including near Mt. Takao (Update 1)
- Tokyo Dips below 10 C; Temperatures Fall in Japan
- Sardines and Mackerels Blanket Beach in Hokkaido; Local Fishermen ‘Never Seen This Many’