Japan’s FY 2021 tax revenue hits record 67.04 trillion yen

Japan’s tax revenue in fiscal 2021 hit 67.04 trillion yen ($495 billion), up 10.2 percent from the previous year and setting a record for the second straight year, as the economy continues on its recovery track from the coronavirus pandemic, the Finance Ministry said Tuesday. Consumption tax was the largest contributor to overall tax revenue during the year through March, raking in 21.89 trillion yen, up 4.4 percent from the previous year. Corporate tax revenue also grew 21.4 percent to 13.64 trillion yen, as a result of solid business earnings amid the easing of restrictions related to COVID-…

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