National general account tax revenues for fiscal 2021 totaled approximately 67 trillion yen, marking a record high for the second consecutive year, The Yomiuri Shimbun learned on Friday. This is an increase of 6.2 trillion yen from the 60.8 trillion yen revenues for fiscal 2020, which had been the largest so far.
With the global economic recovery from the pandemic, corporate performance and the income environment improved, and three core taxes -- income tax, corporate income tax and consumption tax -- all saw revenue increases.
Income tax revenue increased by 2.2 trillion yen to 21.4 trillion yen, corporate tax revenue increased by 2.4 trillion yen to 13.6 trillion yen and consumption tax revenue increased by 0.9 trillion yen to 21.9 trillion yen.
The depreciation of the yen helped boost business performance, especially among exporters, and consumption of services such as food and beverages and travel also gradually recovered.
The government had projected tax revenues of 57.4 trillion yen in the initial budget for fiscal 2021, but the forecast was raised to 63.9 trillion yen in the supplementary budget decided in November 2021, due to a recovery in corporate earnings.
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