BUSINESS

Tax revenues miss target in September

PROKOPIS HATZINIKOLAOU

TAGS: Finance

This fall has not started well for tax revenues, as Greek citizens’ taxpaying capacity has been exhausted according to the income tax and Single Property Tax (ENFIA) payment figures issued by the State General Accounting Office on Wednesday.

Data showed that net budget revenues missed their target by 93 million euros in September, even though it was a month with both income tax and ENFIA payments. Taxpayers failed to pay 177 million euros in income tax and 69 million euros in ENFIA.

At the same time figures revealed a significant reduction in the state’s debt payments to households and corporations, with rebates missing their target by 507 million euros. This and the 1.238-billion-euro shortfall in Public Investment Program spending in the year to end-September have contributed to the ascent of the primary budget surplus to 4.795 billion euros in the first nine months of the year, against a target of just 2.52 billion.

However, the negative course of tax revenues could affect negotiations with the country’s creditors over the amount of the primary surplus, as the decision whether to cut most pensions from 2019 or not will be based on these data.
 

Online