Tax revenues increased by €2.5 billion in the first nine months of 2024

Table of Contents

A significant boost to the increase in State Budget revenues was given by the implementation of the measure of interconnecting cash registers directly with AADE through the expansion of the use of POS in dozens of professions. This measure had the effect of declaring increased turnovers from self-employed people who had previously shown reduced incomes. For the government, the expansion of POS throughout the economy is – as the numbers show – a strategic weapon in the fight against tax evasion.

Receipts

According to the GLK data for the execution of the Budget for the nine months January-September, the total revenues of the State Budget amounted to 56,370 million euros, reduced by 683 million euros or 1.2% against the target.

In particular, the revenues of the “Taxes” category amounted to 48,867 million euros, increased by 2,494 million euros or 5.4% compared to the target included in the introductory report of the 2024 Budget. This overperformance comes both from the better performance of of income taxes of natural and legal persons of the previous year that were collected in installments until the end of February 2024 (it is noted that an estimated amount of 647 million euros is counted in the fiscal result of the year 2023) as well as from the best performance in the collection of taxes of the current year . Therefore, the excess of tax revenues that is counted fiscally in the year 2024 amounts to 1,847 million euros.

X-ray

In the analysis based on the main taxes of this category, the following can be observed:

* VAT revenues amounted to 18,749 million euros, increased against the target by 688 million euros.

* The revenues of EFCs amounted to 5,387 million euros, increased by 174 million euros compared to the target.

* Real estate tax revenues amounted to 2,079 million euros, increased against the target by 39 million euros.

* Income tax revenues amounted to 17,456 million euros and are increased against the target by 1,587 million euros, of which the Personal Income Tax is increased by 651 million euros, the Corporate Income Tax is increased by 664 million. euros and Other Income Taxes increased by 273 million euros compared to the target.

Primary surplus

The increase in Budget revenues combined with the restraint of expenditure by 4,246 million euros to 49,330 million from 53,577 million euros, which has been included in the introductory report of the 2024 Budget from the introductory report of the 2024 Budget, sent the primary surplus close to 8.7 billion euros.

In particular, for the period January-September 2024, there is a surplus in the balance of the State Budget amounting to 1,568 million euros against a target for a deficit of 1,443 million euros that has been included for the corresponding period of 2024 in the introductory report of the 2024 Budget and a deficit of 397 million. euros in the corresponding period of 2023. The primary result on a modified cash basis was a surplus of 8,735 million euros, against a target for a primary surplus of 5,297 million euros and a primary surplus of 5,987 million euros for the same period in 2023.

Budget execution in the nine months
Forecast Realization Difference
Taxes 46.373 48.972 2.493
Expenses 53.577 49.330 -4.246
Primary surplus 5.297 8.743 3.445
Fiscal balance -1.443 1.575 3.018
Amounts in million euros
Source GLK

#Tax #revenues #increased #billion #months
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