Direct and indirect taxes increased revenues in the 11 months by 784 million euros

By Tasos Dasopoulos

The tax revenues for the 11 months of January-November reach the excess of 784 million euros, with the data of the General Accounting Office showing exceeding the revised budget targets in both indirect taxes – due to the restart of the economy – and direct taxes.

In particular, based on the final data for the execution of the budget in the 11 months of January – November, the total state budget revenues amounted to 52.746 million euros, increased by 408 million euros or 0.8% against the target.

Tax revenue amounted to € 42,932 million, up € 784 million or 1.9% from the target set in the 2022 Budget Report.

In the analysis by tax category, for the period January – November 2021, an increase against the target was observed in the following main categories of revenue:

– VAT on petroleum products and their derivatives by EUR 32 million or 2.1%,

– VAT on other products and services by EUR 152 million or 1.1%,

– In the EFC of energy products by 53 million euros or 1.5%,

– In the VAT of other products by 11 million euros or 2.0%,

– Taxes on financial and capital transactions by EUR 14 million or 3.1%,

– Other taxes on specific services by EUR 34 million or 3.0%, of which: Premium tax by EUR 12 million or 3.3%,

– Taxes and duties on imports by EUR 22 million or 8.7%,

– In the regular real estate taxes by 87 million euros or 3.9% of which: ENFIA by 86 million euros or 3.9%,

– Income tax from natural persons (VAT) by 296 million euros or 3.3%,

– Income tax from companies (NP) by 117 million euros or 4.1%,

– In sales of goods and services by 23 million euros or 4.4%.

On the contrary, the revenue in the following main categories was reduced compared to the target during the same period:

– TAC of tobacco products by EUR 18 million or 0.9%,

– Other income taxes by EUR 16 million or 1.5%,

– Transfers by EUR 374 million or 5%,

– Other current income by 25 million euros or 1.2% of which: Reimbursements of expenses by 12 million euros or 1.5%.

Revenue recoveries amounted to € 4,270 million, up € 82 million from the target (€ 4,188 million).

Revenues from the Public Investment Budget (PIP) amounted to € 3,768 million, down € 419 million from the target (€ 4,187 million).

The State Budget expenditures for the period January – November 2021 amounted to 60,743 million euros and are reduced by 805 million euros or 1.3% compared to the target (61,548 million euros), which is included in the budget report 2022.

On the part of the Regular Budget, there is a lag of 660 million euros or 1.2% against the target, which is mainly due to the under-execution of other grants by 474 million euros and the purchases of goods and services by 129 million euros.