Federal and state tax revenues also rose sharply in June. Compared to the previous year, they increased by 26.3 percent to a good 93 billion euros, as the Federal Ministry of Finance announced in its monthly report on Thursday. In the first six months of the year, tax revenue grew by 17.5 percent to almost 408 billion euros.
“In terms of income tax, the robust labor market ensured a strong increase in income,” it continues. Unadjusted, they increased by 10.6 percent in June. Businesses also paid more taxes, with corporate tax revenue up 29.3 percent year-on-year.
The increase in revenue from sales tax was even greater at a good 55 percent. High inflation also contributed to this. According to the monthly report, the increase is partly due to accounting shifts in sales tax on imports.
But even adjusted for these effects, strong increases in import prices would have increased the value of imported goods and thus income significantly. Revenue from domestic sales tax increased by 9.2 percent.
