Where Japan’s Government Gets its Money

Like all governments they get their money from taxes, too. But, taxes make up just over half (53.5%) of the revenue for Japan.

Income tax makes up 16%.

Corporation taxes make up 14%.

Consumption (sales) tax makes up 12.4%

Gasoline tax makes up 2.6%

Liquor tax makes up 2.0%

Inheritance tax makes up 1.5%

Tobacco tax makes up 1.0%

Customs and Motor vehicle taxes make up about 1.8% combined.

Stamp Revenue makes up 1.4%. I never quite understood this but surely had to pay my share of it. Whenever a deal is signed, there is a stamp (looks like a postage stamp) that must be bought and placed on the document.)

So, where does Japan get the rest of the money to run its government:

Answer: Government bonds – make up almost 42% of the annual revenue in Japan.

Government bonds are the number one source of revenue for Japan’s government making up about 42% of the budget income.

The total income – a whopping 82,100,829,000,000 yen. 

There was talk about getting rid of the last two zeros in the Japanese currency and making 100 yen equal to 1 yen and not charging anything less than that.

Looks to me like it is about time to do so.

What do you think?

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