Fukuoka Prefecture’s fiscal year 2022 general account settlement forecast reveals record highs in both prefectural tax revenue and net balance, with a 4.3% increase in tax revenue to ¥734.3 billion and a net balance surplus of ¥9.2 billion. Corporate taxes rose by 5.1%, and local consumption taxes on imports increased by 5.7%. Total revenue fell by 9.9% to ¥2.2778 trillion, affected by reduced national expenditure on COVID-19 measures. Expenditure dropped by 10.5% to ¥2.2031 trillion, and cooperation payments related to COVID-19 were cut by 94.2%. The balance of prefectural bonds saw its first reduction since 1966, decreasing by ¥78 billion to ¥3.8053 trillion. Source: Fukuoka Prefecture / Nikkei
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