Tax revenues increased by 1.75 billion euros in the four months

By Tasos Dasopoulos

Tax revenues for the first four months were exceeded by € 1.75 billion against the budget target, with most of the increase (€ 755 million) due to VAT and immediately afterwards income tax (€ 455 million), due to the transfer of payment of part of the obligations of 2021 in 2022.

However, the final budget execution figures for January-April show that despite continued increases in liquid fuels, the reduction in consumption to which consumers have been forced has reduced indirect tax revenues to almost zero.

In particular, VAT on fuel records an increase of 113 million euros which as fully offset by the reduction of Excise Tax by 108 million euros which is imposed on the amount of fuel sold resulting in a net increase in revenue of 5 million euros

More specifically, the revenue of the category “Taxes” amounted to 16,040 million euros, increased by 1,748 million euros or 12.2% compared to the target included in the budget report 2022. This oversupply is due to the extension of the payment deadline. of road tax until the end of February 2022, in the best return of the previous year taxes collected in installments until the end of February 2022 as well as in the best return in the collection of taxes of the current year.

In particular, the following are observed for the main taxes of this category:
VAT revenues amounted to 6,615 million euros and are higher than the target by 755 million euros.

Revenue of EFK amounted to 2,042 million euros and is reduced against the target by 112 million euros.

Real estate tax revenues amounted to 541 million euros and are higher than the target by 18 million euros.

Revenue tax revenues amounted to 4,354 million euros and are higher than the target by 409 million euros.

Exceeding the revenue target is complemented by increases of € 42 million from customs duties, € 138 million from other production taxes and € 366 million from other current taxes.

The State Budget expenditures for the period January – April 2022 amounted to 21,007 million euros and are reduced by 958 million euros compared to the target (21,965 million euros), which is included in the presentation report of the 2022 Budget.

On the part of the Regular Budget, there is a lag of 1.448 million euros against the target, which is mainly due to the delay of payments of armaments programs by 458 million euros. There is also a lag in the current transfers to EU organizations and states. by EUR 149 million and the forfeiture of guarantees by EUR 203 million.