Sunday, August 24, 2014

High tax revenues despite economic downturn –

High tax revenues despite economic downturn –

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Date: 22/08/2014 01:29 clock

federal and state governments in July despite economic slowdown in the spring significantly higher tax revenues recorded a year ago. According to the Federal Ministry of Finance, they took a 45.4 billion euros, 3.3 percent more.

Especially the good position in the labor market caused the positive result. So the income tax brought a 14.8 billion euro, 7.3 percent more. The sales tax increased by 3.9 percent to 16.6 billion euros and flushed into the coffers

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Total tax revenues rose in the first seven months by 2.6 percent to a total of almost 330 billion euros. However, an increase of 3.4 percent for the full year 2014 expected.

This is the last economic slowdown does not beat the time being down on tax revenues. In the second quarter, GDP had dropped unexpectedly by 0.2 percent. A weaker economy makes usually only with some delay in tax revenue noticeable.


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