Japan FY 2021 Tax Revenues Total Record 67 T. Yen: Sources
Tokyo, July 2 (Jiji Press)--The Japanese government's tax revenues for fiscal 2021, which ended this March, totaled around 67 trillion yen, hitting a record high for the second consecutive year, informed sources have revealed.
The figure is higher than the fiscal 2020 total of 60.8 trillion yen. The Ministry of Finance will shortly release official results for fiscal 2021.
In the last fiscal year, corporate tax revenue is believed to have increased sharply thanks to a recovery in corporate earnings on the back of the yen's weakening. Consumption tax revenue is also believed to have grown on higher consumption in value terms amid rising prices.
Total fiscal 2021 tax revenues were estimated at 57.4 trillion yen when the fiscal 2021 initial budget was adopted, and the estimate was revised to 63.9 trillion yen when a supplementary budget was compiled late last year.
The actual total is now expected to exceed even the revised estimate by some 3 trillion yen.
[Copyright The Jiji Press, Ltd.]