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Japan's tax revenue to slip below $560bn in fiscal 2019

New bond issues likely as coronavirus bites; more falls expected this year

Japan's Ministry of Finance: The government has cut its tax revenue estimate for the current fiscal year for a second time as the economy is hit by the coronavirus pandemic  (Photo by Shinya Sawai)

TOKYO -- Japan's national tax revenue in the fiscal year ended March is expected to fall below 60 trillion yen ($560 billion) for the first time in two years as a result of the economic slowdown brought on by the novel coronavirus outbreak, Nikkei learned Wednesday.

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