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To: bill meehan who wrote (44846)	6/3/1999 11:23:00 AM
From: John Pitera	Read Replies (3) of 86076

you don't enjoy the mellifluous crooning of The Shat? BTW. I see that tax revenues are at an 11 year low in Japan. the question is , Is this the 1982-83 environment where the numbers are lagging the turn around? Any thoughts on that? June 3, 1999 -------------------------------------------------------------------------------- Long Recession Is Likely to Cut Into Japan's 1998 Tax Revenue Associated Press TOKYO -- It is likely that Japan's national tax revenue will fail to meet the government's target, falling to an 11-year low because of the nation's prolonged economic slump, the Finance Ministry said Wednesday. As of the end of April, tax receipts for fiscal 1998 totaled $352 billion, 85% of the most recent projection. The ministry has already lowered its tax-revenue estimates twice. The shortfall stems mainly from a substantial drop in income-tax receipts from businesses and individuals, said Kyohei Shimada, a ministry official in charge of taxes. Many Japanese companies have been hit hard by the recession. At the end of April, corporate-tax revenue totaled $59.8 billion, down 15% from a year ago, according to ministry statistics. Tax revenues peaked at $498.7 billion in fiscal 1990. Mr. Shimada said the ministry will announce the final results for fiscal 1998 in early July, when taxes paid in May are tabulated. Nearly 40% of corporate taxes come from companies that close their books in March and pay taxes in May.

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