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Tax revenue lagging by 8.2 percent

STATE tax revenues in the first four months of 2011 were €2.668 billion, 8.2 percent behind expectations. Non-tax revenue represented €81.6 million at the end of April, the Tax Directorate reported, according to the SITA newswire.

STATE tax revenues in the first four months of 2011 were €2.668 billion, 8.2 percent behind expectations. Non-tax revenue represented €81.6 million at the end of April, the Tax Directorate reported, according to the SITA newswire.

Revenue from income tax, profit and capital gains was €541.5 million, which represented 84.18 percent of the budgeted level. Domestic taxes on goods and services of €2.113 billion also lagged projections, by 6.13 percent. Collection of excise taxes totalled €616.3 million and reached 88.69 percent of the budgeted level.

Value added tax raised €1.497 billion, 3.8 percent short of the plan. Tax and customs offices are expected to collect a total of €8.717 billion this year.

Last year, the tax and customs revenues of the state totalled €7.962 billion, down 0.8 percent from 2009. Non-tax revenues dropped 17.7 percent year-on-year in 2010 to €681.3 million.


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