August 20, 2015
So much money: the federal government takes more money than expected. Photo: Imago
The upswing in Germany is driving the tax revenues of the federal government, states and municipalities in unexpected heights. In July, the tax recorded almost nine percent more than in the same month last year.
It’s almost a bit scary: When Financial Secretary Thomas Steffen presented the regular monthly report of the Federal Ministry of Finance, it is now for several years in the preface about the Current situation: Solid economic growth, record employment, rising incomes, bubbly sources of tax revenue. Even the youngest, published on Thursday report is no exception: The stable upturn in Germany is driving the tax revenues of the federal government, states and municipalities in unexpected heights
In July the tax recorded with 50 billion. Euro almost nine percent more. in their coffers than last month This already took the Treasury in the first seven months € 350 billion a, which represents an increase of almost six percent compared to the same period last year. Itself continues the trend, the expectation of the tax estimate for the full year of plus 3.7 percent is likely to be significantly exceeded.
Why exactly buoyant tax sources so vigorously? Firstly, the high level of employment and significant wage increases means that the revenue from the income tax increase sharply. The volume rose by more than six per cent compared to July 2014. From January to July revenues were summed up by more than seven percent on the previous year
The growth has two causes:. Higher wages of more employees provide per se for a tax increase. Growth is still enhanced by the design of the tax rate: The tax burden does not rise evenly with the income but progressive. Each additional euro earned an increasing proportion to the tax authorities must be paid. Parallel to the rise of the wage and income tax increases also the solidarity surcharge (plus eight percent). Because it increases the tax liability.
In addition, people consume more. The tax – also referred to as value added tax – rose in July by a total of four per cent. As more was imported, even the advent of the so-called increased import sales tax, which increased by more than twelve percent. That people clearly spend more money, you can also see several excise taxes. Thus the tobacco tax grew in July by around 16 and the champagne tax by nearly 17 percent. The aviation tax rose, that has to do with an increasing number of flight bookings.
Last but not least the companies have earned strong. The distributions to shareholders in the form of dividends are at a record level. The revenue from “non-assessed taxes on earnings” – these are largely taxes on dividends -. Climbed from January to July by more than six percent over the previous year
Schäuble likely it by the falling powerful control Plus easier to continue to do without new debt. That was his first time in 2014 succeeded. At least part of the additional revenue is however already planned: So that municipalities receive in this legislature five billion euros in addition. Citizens should be relieved from 2016 year by 1.4 billion euros to compensate the negative effects of the so-called cold progression.
The Ministry of Finance expects that the situation will remain stable. The recovery would “continue at a moderate pace.” It also indicated the full order books in the industry, especially in the capital goods sector, towards, the experts write. However, there are also risks: is not yet clear how the financial market turmoil in China weighed on the local economic growth and thus also on German exports. And particularly applies: “. The Greek crisis is not over yet” A renewed escalation could jeopardize the confidence of German companies, warns the Ministry
.
No comments:
Post a Comment