Budget tax revenues within targets in Jan-July

Budget tax revenues are moving within annual targets set for 2017 in the January-July period, the Independent Authority of Public Revenue said in a report released on Wednesday.

The report said that tax revenues, based on their trend in the seven-month period, will cover 100.79 pct of the annual target set in the Greek budget and 99.97 pct of the revised increased target.

More specifically, tax revenues in the January-July period totaled 24.080 billion euros, almost unchanged from the same period in 2016 (24.182 billion). Revenue from direct taxes fell by 653.87 million euros in this period, while revenue from indirect taxes grew by 551.88 million.

In July, tax revenue was 5.070 billion euros, up from 4.901 billion in 2016. Indirect taxes accounted for 51.14 pct of total tax revenue in July, down from 54.71 pct in the same month in 2016.

Income tax revenue (individuals and corporate) was almost unchanged at 2.03 billion euros in July (individuals up 4.4 pct and corporate down from 775.7 million euros to 718.6 million).

Tax revenue from wages and pensions grew 7.28 pct, income tax (professionals) fell 16.7 pct, property tax revenues were up 9.14 pct. Tax revenue from past cases grew 6.9 pct to 124.25 million euros in July, while revenue from other direct taxes fell 25.36 pct. VAT revenue grew 3.97 pct in the month, while revenue from other transaction taxes grew 12.33 pct and revenue from other consumption taxes soared 67.28 pct.