Revenue overruns are linked to economic growth, increased collectability and the effectiveness of anti-evasion measures
According to the data of the Ministry of National Economy and Finance, the budget shows an excess of tax revenues by approximately 2.5 billion euros in the 9 months of January-September, with income taxes yielding 1.6 billion euros more and VAT revenues an additional 688 million euro.
The revenue exceedance is linked to the growth of the economy, increased collectability and the performance of anti-evasion measures such as the interconnection of cashiers and pos.
It is noted that the above concerns the comparison in relation to the objectives of the Budget, while during the preparation of the Draft State Budget 2025 the relevant estimates were updated, taking into account the execution of the revenues.
In particular, the following are observed for the main taxes of this category:
- VAT revenues amounted to 18,749 million euros and are increased against the target by 688 million euros.
- The revenues of the Social Insurance Institutions amounted to 5,387 million euros and are increased against the target by 174 million euros.
- Real estate tax revenues amounted to 2,079 million euros and are increased against the target by 39 million euros.
- Income tax revenues amounted to 17,456 million euros and are increased against the target by 1,587 million euros, of which Personal Income Tax is increased by 651 million euros, Corporate Income Tax is increased by 664 million euros and Other Income Taxes increased by 273 million euros against the target.
Source: Skai
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.