Home Economy The jump in revenue due to VAT in the first two months

The jump in revenue due to VAT in the first two months

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The jump in revenue due to VAT in the first two months

Overpayments from VAT And income tax his income skyrocketed budget in the first two months of the year, a development that led to an increase in the primary surplus, which reached 4.2 billion euros against the target of 1.8 billion euros.

As can be seen from the final data published Main Accountingnet revenues of the state budget amounted to 12.966 billion euros, an increase of 1.962 billion euros or 17.8% compared to the estimate for the corresponding period included in the 2023 budget introductory report. This increase is mainly due to increase in tax revenueas well as increasing income PDE.

As for tax revenues, they amounted to 9.990 billion euros, an increase of 1.245 billion euros or 14.2% compared to the budget target. Part of this increase, namely approximately 470 million euros, is related to the extension of traffic payment until the end of February 2023, while it was assumed that this amount would be collected during the month of December 2022. The remaining amount of overfulfillment is related to the best execution of income tax for individuals and legal entities for the previous year. , which were collected in installments until the end of February 2023, as well as from the best VAT performance this year. Especially:

• VAT revenue of €4.107 billion, up €330 million from plan. Overall, revenues from indirect taxes increased by 463 million euros.

• Income tax revenue of €3.149 billion, above the target of €367 million.

• PDE revenues were €1.179 billion, up €434 million.

It is noted that for the specified period, the return of income amounted to 784 million euros, an increase of 104 million euros from the target of 680 million euros.

In February alone, the total net income of the state budget reached 5.800 billion euros, which is 1.388 billion euros higher than the monthly plan, of which 721 million euros, or 16.6%, came from tax increases.

The state budget expenditures for the period from January to February 2023 amounted to 10.658 billion euros and are presented as a decrease of 309 million euros compared to the target in the budget.

According to the Court of Accounts, in the first two months of the year, 180 million euros were paid in advance to hospitals, as well as a grant to the Information Society in the amount of 325 million euros with a reallocation of loans from the reserve to encourage action to combat it. energy crisis (credits in the process of distribution) to meet the needs of the Market Pass during the first months of its application. Investment expenditure payments amounted to 1.319 billion euros, showing a backlog of 170 million euros.

Author: Prokopis Hadjinikolou

Source: Kathimerini

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