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

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.

.

Source From: Capital