State revenues above target for January


State revenues came in at 6.43 percent above the budget target in January, according to provisional figures released on Friday by the Independent Authority for Public Revenue.

The data showed that revenues amounted to 4.27 billion euros before tax rebates and 3.956 billion after the rebates, against a target for 3.716 billion. They were also up 1.8 percent on revenues collected in January 2016. Rebates amounted to 314 million euros, against a target for 296 million in the year’s first month.

Taxpayers had until January 31 to pay the last installment of their 2016 Single Property Tax (ENFIA). The state has forecast it will collect 3.85 billion euros for this month.

In total, the state budget provides for revenues of 50.374 billion euros (after tax rebates) for the whole of 2017, which is up 1 percent on the revenues collected during 2016.

The positive course of January’s revenues was due to the increased taxes imposed as of January 1: The special consumption tax on gasoline rose 3 cents per liter from 0.67 to 0.70 euros/lt, along with hikes on diesel, autogas, cigarettes and other tobacco products. Other increases concerned coffee and landline telephone service.