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Germany’s tax revenues up by 7.7pc in Jan

Published : Monday, 24 February, 2020 at 12:00 AM  Count : 73

BERLIN, Feb 23: Total tax revenues in Germany rose in January 2020 by 7.7 per cent compared with January of the previous year, the Ministry of Finance announced on Friday.
The increase was driven by "significantly higher" revenues from joint taxes shared by municipalities, states and Germany's national government with an increase of 7.3 per cent, according to the ministry.
Revenues from federal taxes were also "significantly" above the level of the same month last year and rose by 10.2 per cent, while revenues from state taxes increased by 10.3 per cent.
"In contrast, receipts from value added taxes posted only moderate growth" and increased by 0.7 per cent, according to the ministry.
For 2020, the ministry is expecting tax revenues of around 750 billion euros (810 billion US dollars), two per cent more than the previous year.    -Xinhua

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