TOKYO, June 26 (Xinhua) -- The Japanese government's tax revenue for the fiscal year that ended in March hit an all-time high of 60.4 trillion yen (562 billion U.S. dollars), local media reported on Wednesday.
Sources close to government was quoted as saying that revenue broke the previous record posted in fiscal 1990 during the economic bubble.
According to the sources, higher revenue from income tax was cited as a key factor. Strong corporate earnings pushed up income levels.
Government revenue is expected to climb even higher for the current fiscal year. That's mainly because of the planned consumption tax hike in October, from the current 8 percent to 10 percent.