The growth in tax revenue this year was less than expected in the first half, and keep up the same pace there will be a deviation of about EUR 660 million at the end of the year. The alert is the Technical Unit of Budget Support (UTAO) in a research note on the budget execution in the first half, quoted by the Economic Daily.
The UTAO warns that if you keep the growth recorded in fiscal revenue in first half, which was 3.5 percent by the end of 2015, tax collection will be 660 million lower than expected. And even this growth of 3.5 percent if recalculated removing factors that may affect the assessment is reduced to 1.7 percent. With a 1.7 percent rate in the second half, the accounts of tax revenue would be the 1130 million of schedule.
Economists at the Technical Unit of Budget Support, which supports the work of the members of Parliamentary Committee on Budget and Finance, warned that “the indirect tax refunds until June 2015 were lower than in the same period by about 260 million euros”, highlighting the VAT.
The Observer recalls the goal of the government for 2015 was a 4.3 percent growth in tax revenue in 2015, which is far from the values recorded in the first half.
The UTAO points out that revenues from VAT first half are much lower than the annual períofo, which can hold up partly with an order which stipulates that refunds of VAT invoices depend on the values reported by enterprises, and that there is no difference between the reported figures through the system e-invoice and claims for reimbursement. The change hinders an accurate forecast of the amounts of VAT refunds by the end of 2015.
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