Japan’s tax revenue for fiscal year 2021 Total record 67 T. Yen: Sources

Policy

Tokyo, July 2 (Jiji Press)–The Japanese government’s tax revenue for fiscal year 2021, which ended in March, totaled about 67 trillion yen, hitting a record high for the second consecutive year, reported informed sources revealed.

This figure is higher than the total of 60.8 trillion yen for fiscal year 2020. The Ministry of Finance will soon release the official results for fiscal year 2021.

Over the past fiscal year, corporate tax revenue is reported to have risen sharply on the back of a recovery in corporate profits following the weakening of the yen. Consumption tax revenues are also believed to have increased on the back of higher consumption in value terms amid rising prices.

Total tax revenue for fiscal year 2021 was estimated at 57.4 trillion yen when the initial budget for fiscal year 2021 was adopted, and the estimate was revised to 63.9 trillion yen when drawing up of a supplementary budget at the end of last year.

The actual total is now expected to exceed even the revised estimate by some 3 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press

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