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Japan’s Tax Income Hits Record For Second Year Running

  • Tax revenues rise to record $492 billion in year ended March
  • Positive numbers suggest stronger recovery from pandemic

Japan’s tax income for the year ended March rose to a record for the second year running, as corporate earnings and incomes jumped amid the ongoing recovery from the pandemic.

Tax income for the latest fiscal year was 67 trillion yen ($492 billion), according to a Finance Ministry release Tuesday. With an unexpectedly large jump in sales and corporate tax revenues, overall revenues increased by about 10% from last year’s record of 60.8 trillion yen.