Tax revenue surpassed budget targets in February

Tax revenues – pre-returns – surpassed budget targets by 160 million euros in February, the Finance ministry said in a report released on Thursday. The ministry report said that in the two-month period from January to February, tax revenues – pre-returns – surpassed budget targets by 5.46 pct, confirming the government economic team’s estimates that a trend which helped create a higher budget primary surplus in 2016 will continue in 2017.

Based on provisional figures, revenue – pre-returns – totaled 4.264 billion euros in February, up 3.90 pct from a budget target of 4.104 billion. Tax returns totaled 331 million euros in the month, surpassing the budget target by 33.47 pct. Tax revenue – excluding returns – totaled 3.933 billion euros, up 2.0 pct from targets.

In the two-month period, tax revenue – pre-returns – surpassed budget targets by 5.46 pct, tax returns were 18.57 pct up from targets and revenues after tax returns surpassed targets by 4.52 pct.