Japan's FY 2021 Local Tax Revenue Hits Record 43.3 T. Yen
Tokyo, July 15 (Jiji Press)--Local tax revenue in Japan in fiscal 2021 is estimated to have totaled a record 43,296.6 billion yen, up 3.9 pct from the previous year, the first increase in two years, the internal affairs ministry said in a preliminary report on Friday.
The growth was led by a sharp increase in corporate enterprise and inhabitant tax revenues on the back of a recovery in corporate earnings, which had deteriorated due to the novel coronavirus pandemic.
In the year that ended in March, the corporate tax revenues jumped 11.2 pct to 8,226.6 billion yen, according to the ministry report.
Individual inhabitant tax revenue, meanwhile, was almost flat at 13,355.7 billion yen, as a drop in salary income was offset by a rise in financial income.
Local consumption tax revenue rose 13.8 pct to 6,170.3 billion yen, thanks to growth in consumption and imports.
[Copyright The Jiji Press, Ltd.]