Tax revenues down slightly – Il Sole 24 Ore

Tax revenues down slightly – Il Sole 24 Ore

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This article was published on January 6, 2015 at 06:37.

TAXES direct

In November, the cumulative revenue was 185.3 billion, a decrease of 2.5% compared to 2013:

down both the personal income tax that the IRES

ROME

Tax revenue share to 354.3 billion in the first eleven months of 2014, a slight decrease of 0 , 4% compared to the same period of 2013. Now we wait for the final data for the entire 2014, that as a result of the revenue flowing in December is usually favorable to the exchequer. It is revenue recognized on an accrual basis, while the cash flows are already incorporated in the figure for the public sector borrowing requirement, announced by the MEF January 2 (76.8 billion, an improvement of 3.5 billion compared 2013). According to the Update to the Def, dating back to last September, the total tax revenues in current legislation is expected to stand at a height of 487.5 billion, with net debt (the policy framework) to 3% of GDP.

In detail, direct taxes recorded in the January-November period revenues amounted to 185.3 billion, a decrease of 2.5% (-4.8 billion), with the personal income tax that has a negative variation of ‘ 1.2% (-1.6 billion). Result – says the Ministry of Economy – which reflects the change in the withholding tax on the income of private sector employees (-0.6%), withholding tax on the incomes of public sector employees (-1.6%), workers autonomous (-1.8%) and payments for self-liquidation (-1.7%).

As for the IRES, despite the recovery in November, is the overall decline of 11.8% (-2.6 billion) and for the MEF is essentially due to lower payments in settlement 2013 and in interim 2014, made last June by banks and insurance. Revenue losses following the increase to 130% of the paid in November 2013.

In a framework that has thus substantially unchanged receipts tax on the face of direct taxation, there is the trend of discrete indirect taxes, with revenues totaling 168.9 billion. In percentage terms, the increase was 2.1% (+3.5 billion euro), with VAT receipts growing by 1.8% (+1.7 billion). In particular, the imposition on internal trade recorded a positive performance of 2.4% (1.9 billion), while decreases of 2.1% of the income component of VAT on imports from non-EU countries, compared to ‘comparable period of 2013.

The usual bulletin prepared by the Department of Finance announced that the revenue that variously relate to the business of assessment and control anti-avoidance confirmed growing, reaching 7.4 billion (+ 15.4%).

Positive tax revenues whose performance is not directly linked to the economic situation (+ 0.2%): revenues related to games (which include various taxes classified as tax revenues both direct and indirect) are amounted to 10.5 billion (-0.1%). Considering only indirect taxes, the proceeds of the activities and games (lotto, lotteries and other gaming activities) is 10.2 billion (-0.1%).

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THE TAX REVENUES

Monthly data in millions of euro

PERCENTAGE COMPOSITION OF TAX REVENUES

Comparing the period January-November 2013 (chart left) and 2014 (right graph)

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