Tax revenue skyrocketed in September

Euro banknotes

The federal and state tax revenues more than tripled in September.

(Photo: dpa)

Berlin The federal and state tax revenues rose by leaps and bounds in September. They rose by 23.1 percent to 78.2 billion euros, according to the latest monthly report from the Federal Ministry of Finance, which was published on Thursday. The prior-year period was weak due to the burdens in the coronavirus crisis. There has now been particularly high growth in wage and sales tax.

In August the plus was a good eight percent. In the first nine months together, federal and state revenues increased to a good 541 billion euros, 9.1 percent more than in the previous year.

Regarding the German economy, it was said that experts’ expectations for this year had recently been revised downwards. “Well-filled order books allow strong economic (catch-up) impulses from the industry and thus a correspondingly stronger macroeconomic dynamic to be expected in the coming year.” Given the recent sharp rise in inflation, a return to “significantly more moderate inflation rates” is possible next year calculate. In September prices in Germany had risen by 4.1 percent, making the rate above four percent for the first time since 1993.

More: Finance Minister Olaf Scholz gives the tax heroes – but resistance threatens from the USA

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