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Tax Revenue Increased By 22% In September

State revenues nearly reached the target in September, as tax revenue increased by 22%, mainly because of the special property tax, free-trade levy and luxury tax. Total revenues (including customs, etc), rose about 10%, excluding tax returns, while the growth is estimated at 4.5% including tax returns.
A senior Finance Ministry official notes that tax revenue should keep rising by 25% in order to meet this year’s budgetary objectives. The performance is September raised optimism in FinMin policymakers. They stress that the increase is close to the target, although revenues from property tax have not collected yet by the Treasury.
Extraordinary levy is estimated to raise €650 million, but this amount may rise after the government postpone the deadline.
FinMin officials are optimistic that state revenue would go even better in October, as food service businesses would pay the increased VAT of 23% for the first time.
(source: capital)

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