JAPAN DATA: Japan’s tax revenue fell 0.6% on year in March, with
the pace of decline accelerating slightly from -0.4% in February, the
Ministry of Finance said. Income tax revenue fell 2.7% in March vs.
+4.4% in February while corporate tax revenue fell 3.4% after +19.2% in
February. Tobacco tax revenue rose 59.4% in March after rising 23.5% in
February. Tax revenue for fiscal 2010 that was collected through March
(more to come in April and May) accounted for 79.8% of the planned tax
revenue for the year, higher than 75.2% which was the average for the
past five years. The impact of the March 11 earthquake disaster was not
reflected in the March tax revenue, which is based on economic activity
up to February.