Greek state’s target for Nov-Dec 2019 a hefty 10.2 bln€ in collected tax revenues

27 November 2018
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The Greek finance ministry’s affiliated services will have to collect tax revenues exceeding 10.2 billion euros over the last two months of the year in order to avoid any deviation from the revised fiscal target.

Detailed numbers on the execution of the 2018 budget over the first 10 months of 2018 were released on Monday, with 38.69 billion euros collected over the specific period. The figure exceeds, by 22 million euros, the revised target for the Jan-Oct 2018 period. The revision came with the tabling of the 2019 draft budget last week.

The revision, moreover, brings the annual target for tax revenue collection over all of 2018 to 48.831 billion euros, up 883 million euros compared to the medium-term fiscal adjustment program.

The current week includes deadlines for a series of tax obligations, such as the third installment of the annual property tax (ENFIA), the last installment of personal income tax (for income generated in 2017), the next-to-last installment of corporate/business taxes, as well as the second installment of VAT remittances for the third quarter of the year.

On the fiscal front, the coalition government on Monday cheered the announcement that the primary budget surplus figure – as a percentage of GDP – for the 10-month period reached 6.435 billion euros, exceeding the target by a whopping 1.686 billion euros. The revised target, after the submission of the draft 2019 budget last week, was 4.749 billion euros.

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