TOKYO, June 29 (Xinhua/APP):Japan's annual tax revenue in the fiscal year 2022 exceeded 71 trillion yen (492 billion U.S. dollars) for the first time, driven by a modest economic recovery, local media reported Thursday.The fiscal 2022 total topped the previous year’s 67,037.9 billion yen, hitting a record high for the third straight year, public broadcaster NHK said, citing government sources.
Corporate tax revenue grew due to an earnings recovery from the COVID-19 pandemic, while higher prices and robust personal consumption are believed to have pushed up consumption tax revenue, said the report.
The finance ministry is expected to release fiscal 2022 tax revenue data in early July, it added.
:Japan's annual tax revenue in the fiscal year 2022 exceeded 71 trillion yen (492 billion U.S.){kind=link}