Upwardly revised revenue target for 2016 will need 8.1 bln€ to flow into state coffers by end of year

Friday, 25 November 2016 11:40
UPD:11:46
REUTERS/Dado Ruvic
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By T. Tsiros

Tax revenues worth 8.1 billion euros must be collected by the finance ministry services over the last two months of 2016 in order achieve the revised, upwards, budget target for the entire year.

With the tabling of the draft 2017 budget on Monday, the General Accounting Office raised the target for revenues for 2016.

The currently executed budget, as ratified last December by Parliament, foresaw tax revenue of 44.761 billion euros over the course of 2016. The revised target raised the figure by a modest 1.06 billion euros, to 45.819 billion.

To date, 37.641 billion euros has been collected from various tax sources, meaning that the remainder is 8.1 billion euros over November and December 2016.

For Greece's now beleaguered middle classes, the last income tax installment for the 2015 fiscal year is pending, along with two installments of the annual property tax (ENFIA); road fees based on the vehicle or vehicles owned (power of an engine measured in cc or liters, as well as the age of the vehicle); and finally, two remaining corporate tax installments for legal entities.

The 37.641 billion euros collected to date exceed, by 623 million euros, the target for the 10-month period of 2016, which was 37.018 billion euros.

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