financetom
Business
financetom
/
Business
/
German tax revenues up 2.6% in May
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
German tax revenues up 2.6% in May
Jun 19, 2024 3:33 PM

BERLIN (Reuters) - German federal and regional tax revenues rose 2.6% to 61.2 billion euros ($65.77 billion) in May from the previous year, helped by a one-off base effect that boosted income on the federal level, the finance ministry said on Thursday.

Growth in wage tax and in flat-rate withholding tax on interest and capital gains contrasted with lower revenues from sales tax and corporation tax compared with a year ago.

In the first five months of the year, tax revenues in Europe's biggest economy rose 2.8% to 322.3 billion euros, said the ministry in its monthly report.

The most recent tax estimates put this year's overall tax revenues 4.1% higher, at almost 864 billion euros.

The government is in the midst of discussions about the 2025 budget with the three parties, including Chancellor Olaf Scholz's Social Democrats (SPD), the Greens and Finance Minister Christian Lindner's Free Democrats (FDP) at odds in many areas.

Looking at the wider economy, the report said that although some indicators had moved sideways in May, the leading ones were increasingly pointing to a moderate recovery for the rest of the year.

($1 = 0.9305 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Nvidia suffers record $279 billion loss in market value as Wall St drops
Nvidia suffers record $279 billion loss in market value as Wall St drops
Sep 6, 2024
(Reuters) -Shares of AI heavyweight Nvidia tumbled 9.5% on Tuesday in the deepest ever single-day decline in market value for a U.S. company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data. Nvidia lost $279 billion in market capitalization, a major indication that investors are becoming more cautious about emerging AI technology...
Surge in foreign bids for Japanese firms only just beginning, says BofA's Komori
Surge in foreign bids for Japanese firms only just beginning, says BofA's Komori
Sep 6, 2024
TOKYO, Sept 4 (Reuters) - A surge in foreign takeover bids for Japanese firms is likely to accelerate, with a focus on those undergoing significant change in management, said Bank of America's ( BAC ) co-head of Japan investment banking, Yuta Komori. The acquisition binge has coincided with increasing appetite for growth among Japanese companies and declining resistance to partnering...
Sprouts Farmers Market Insider Sold Shares Worth $1,135,218, According to a Recent SEC Filing
Sprouts Farmers Market Insider Sold Shares Worth $1,135,218, According to a Recent SEC Filing
Sep 6, 2024
03:27 AM EDT, 09/06/2024 (MT Newswires) -- Jack Sinclair, Director, Chief Executive Officer, on September 03, 2024, sold 11,428 shares in Sprouts Farmers Market ( SFM ) for $1,135,218. Following the Form 4 filing with the SEC, Sinclair has control over a total of 216,718 shares of the company, with 216,718 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1575515/000157551524000151/xslF345X05/wk-form4_1725576255.xml Price: 99.60, Change:...
US Steel core management, majority of board members will be US citizens, Nippon Steel says
US Steel core management, majority of board members will be US citizens, Nippon Steel says
Sep 6, 2024
TOKYO, Sept 4 (Reuters) - Japan's biggest steelmaker Nippon Steel ( NISTF ), which is seeking to acquire U.S. Steel , said on Wednesday if its purchase goes ahead core senior management as well as a majority of board members at the U.S. company would be U.S. citizens. The announcement follows Democratic presidential candidate Kamala Harris this week echoing President...
Copyright 2023-2026 - www.financetom.com All Rights Reserved