Categories: Uncategorized

Tax revenues increased by 2.84 billion euros due to VAT and ENFIA


By Tasos Dasopoulos

Increased VAT receipts due to price increases and the one-time repayment of ENFIA in May resulted in tax revenues exceeding by 2.84 billion euros for the five months January – May, giving the margin for the payment of the second subsidy on fuel ( Fuel Pass 2).

According to the final budget execution data, the tax revenues for the five months January – May reached 20,613 million euros, increased by 2,843 million euros or 16% compared to the target included in the budget report 2022. This over-execution is due to the extension of the deadline for payment of road tax until the end of February 2022, the best return on taxes of the previous year collected in installments until the end of February 2022, the best return on tax collection this year, as well as the collection in the month May of the first installment of ENFIA which was predicted to be received in September.

In particular, the following are observed for the main taxes of this category:

– VAT revenues amounted to 8,319 million euros and are increased against the target by 754 million euros.

– Revenue of EFK amounted to 2,607 million euros and is reduced against the target by 132 million euros.

– Real estate tax revenues amounted to 1,395 million euros and are increased against the target by 829 million euros due to the collection of the first installment of ENFIA, as mentioned above.

– Income tax revenues amounted to 5,346 million euros and are higher than the target by 550 million euros.

In terms of other categories of revenue

– The income of the category “Social Contributions” amounted to 23 million euros according to the target.

– Revenue in the “Transfers” category amounted to EUR 2,697 million, reduced by EUR 540 million compared to the target set out in the 2022 Budget Report. EUR refers to PDE revenues, which are reduced by EUR 582 million compared to the target.

Revenue from “Sales of goods and services” amounted to EUR 318 million, up by EUR 100 million from the target set out in the 2022 Budget Report.

– Revenue in the category “Other current revenue” amounted to EUR 810 million, an increase of EUR 50 million over the target set out in the 2022 Budget Report. Of this amount, EUR 211 million relates to EDP revenue, which increased by EUR 118 million against the target.

– Revenue from sales of fixed assets amounted to EUR 6 million, increased by EUR 6 million compared to the target set out in the 2022 Budget.

Revenue recoveries amounted to € 2,180 million, up € 574 million from the target (€ 1,606 million).

The total revenue of the Public Investment Budget (PIP) amounted to 1,106 million euros, reduced by 464 million euros from the target (1,570 million euros).

Source: Capital

Published by
Derek Black

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