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Tax incomes lag behind projection

THE STATE’S overall tax revenue in 2012 amounted to €4.918 billion up to the end of July, lagging behind the level projected in the state budget by 8.6 percent. The sum collected represented 53.3 percent of the annual projection, the SITA newswire reported, citing data from the Finance Directorate.

THE STATE’S overall tax revenue in 2012 amounted to €4.918 billion up to the end of July, lagging behind the level projected in the state budget by 8.6 percent. The sum collected represented 53.3 percent of the annual projection, the SITA newswire reported, citing data from the Finance Directorate.

The treasury collected €1.308 billion in taxes on income, profits and capital gains. Among taxes on goods and services, the treasury collected €2.457 billion in value added tax, representing
87.44 percent of the expected amount.

State budget revenue from excise duties was €1.123 billion at the end of July. Based on the state budget law for 2012, tax revenue this year should be €9.228 billion.

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