BERLIN (MNI) – German total public sector tax revenue this year
will amount to E571.2 billion, some E16.2 billion higher than previously
estimated, according to figures from the government’s tax estimate
commission released Friday by the Finance Ministry.
Tax revenue for the federal government alone is projected at E246.7
billion in 2011, some E9.3 billion above previous estimates. In
its 2011 budget law, the government assumed federal tax revenue for this
year of E229.2 billion.
The finance ministry said last month it expects that federal net
new borrowing this year will likely be significantly below E25 billion,
thus markedly undershooting the E48.4 billion earmarked in the 2011
budget.
Beyond 2011, the tax commission now forecasts total public tax
revenue of E592.0 billion in 2012 (up E7.4 billion), E613.2 billion in
2013 (up E4.5 billion), E635.8 billion in 2014 (up E5.2 billion) and
E658.5 billion in 2015 (up E6.2 billion).
Federal tax revenue is projected at E249.9 billion in 2012 (up
E2.7 billion), E257.2 billion in 2013 (up E1.8 billion), E268.3 billion
in 2014 (up E3.4 billion) and E276.7 billion in 2015 (up E2.4 billion).
For 2016, the tax commission’s first forecast is for total public
tax revenue to rise by 3.3% to E680.0 billion and for federal tax
revenue to increase by 3.8% to E287.2 billion.
The tax commission’s new estimates assume real GDP growth of 3.5%
in 2011, 3.8% in 2012.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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