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German tax revenues seen higher than previously estimated - Handelsblatt

·1-min read

BERLIN (Reuters) - Germany can expect more tax revenue in the coming years than forecast last November but measures to mitigate the impact of the war in Ukraine will diminish some of the extra fiscal leeway, Handelsblatt said, citing updated government estimates.

Germany's federal government, regions and municipalities can expect 232 billion euros ($245 billion) in additional revenues over the coming years compared to last November's tax estimate, the newspaper said, citing updated federal finance ministry estimates.

In 2025, the tax revenues of the state as a whole will break through the trillion-euro threshold for the first time and amount to 1.011 trillion euros, Handelsblatt said.

The reason for the expected strong rise in revenues is higher revenues from sales tax, corporate tax and income tax, but relief packages planned by Berlin to address higher energy prices must still be deducted from the additional revenues.

"Taking into account the relief measures, it will become apparent that the leeway is considerably smaller than it might initially appear," the business daily cited finance ministry sources as saying.

There was no comment immediately available from the finance ministry.

The updated tax estimates are due on Thursday.

($1 = 0.9477 euros)

(Writing by Paul Carrel; Editing by Mark Potter)

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