Fiscal 2016 saw Japan's first drop in tax revenue in seven years

Business Jun 29, 2017

Fiscal 2016 saw Japan's first drop in tax revenue in seven years

The government collected around ¥55.5 trillion ($495 billion) in tax revenue in fiscal 2016, down from ¥56.29 trillion in fiscal 2015, posting the first year-on-year drop in seven years, sources said. The fall was largely attributable to the firming of the yen, which dented exporters’ ...