fuel tax has yielded billion to the state – publico

 
         

                 

                         
                     

                         

                 

 
 

In just four months, until April, the state has raised with the tax on oil and energy products (ISP) billion, a level that in 2015 was only surpassed after six months. But we have to take into account an accounting effect that is more than 100 million euros.

The data of budget execution published on Wednesday show that the ISP revenues soared 43% until April . To state coffers came 1.0226 billion euros in the first four months of the year, when in the same period the ratio was 715.6 million. The improvement reflects the increase in the tax on gasoline and diesel in six cents from February 12, but not only.

The Budget Directorate-General contends, moreover , the synthesis of budget implementation, the increase is “above all” to an accounting overhaul that makes it now accounted for in ISP revenue of road service contribution, which was previously recorded in the subsector of autonomous services and background. This impact until April worth 106.2 million euros. So without this effect, the ISP would have been in the 916 million in the first four months of the year, representing a 28% increase.

If in March, the first month in full in force the ISP rise, revenue grew 50% over the same month last year, next month accelerated further. The State dovetailed April 121% more than in the same month last year, which means that more than doubled revenues, from 187 million to 412.7 million. There are over 225,700,000. Also in the reading of these data it is necessary to take into account the accounting change, which raises the amount of revenue compared to 2015.

It is the collection of ISP and tobacco tax that explain “largely “growth of 7.8% in indirect tax revenues, allowing recovery of tax revenue of the state (which was falling until March and reversed the trend), underlines the DGO budget execution synthesis.

After rising six cents in February, the government revised the ISP for petrol and diesel, given the changes in oil prices on international markets and its impact on fuel reference prices. The first review took place on 12 May, three months after the ISP rise, and led the government to lower the tax a penny in both petrol and diesel.

The next data of budget execution for the May should therefore reflect this mixed impact: for almost two weeks, the ISP was six cents higher compared to the situation before 12 February and the second part of the month the increase was five cents in relation to that first date that there was a change .

in all, the state’s tax revenue grew 3.2% in the first four months of the year, with the collection of 11,866 million euros, up 367.8 than in the same period last year.