Japan to Boost Tax Grants to Local Govts

December 18, 2018

Tokyo -- The Japanese Internal Affairs And Finance Ministers Agreed On Tuesday To Increase Tax Grants To Local Governments For The First Time In Seven Years In Fiscal 2019.

For The Year That Starts Next April, The Sum Will grow by 170 billion yen from the previous year to 16.17 trillion yen.

These funds include tax grants from the central government Local Tax Revenues And. The Agreement Was Reached In A Meeting Between Internal Affairs Minister Masatoshi Ishida And Finance Minister Taro Aso.

Local Tax Revenues Are Estimated To Increase By 900 Billion Yen To 42.9 Trillion Yen.

The amount of local government bonds to be newly issued to cover revenue shortages will fall by 700 billion yen to 3.3 trillion yen thanks to larger tax grants and local tax revenues. Jiji Press