Two government sources said on Thursday that Japan’s tax revenue in fiscal year 2025 could surpass 84 trillion yen (equivalent to $51.692 billion), marking the sixth consecutive year it sets a record high.

　　Growth in tax revenue may help Japan’s Hayato Sanaa cabinet reduce its reliance on issuing new government bonds to fund large-scale spending plans.

　　Japan’s public broadcaster NHK was the first to disclose that, based on estimates for the fiscal year ending in March this year, projected tax revenue is about 4 trillion yen higher than the government’s forecast made in November last year.

　　A source said that rising wages and strong corporate earnings have increased tax payments from residents and businesses, boosting overall tax revenue.