If Fernando Medina made a mistake in his calculations, it was due to excess. In fact, by booking a 0.3% increase in IRS revenues in this year’s budget, the Treasury Secretary would be far from assuming that effective revenues would be up 12.1% by September, a 4,000% increase than originally projected. . In fact, the state’s total tax revenues through September amounted to 42.9 billion euros, an increase of 7.7%, according to the budget execution report published by the Directorate General of Budget (DGO).
In cumulative terms, tax revenues rose by more than €3 billion in the first nine months of the year compared to the value observed in the same month last year. “In aggregate terms, tax revenues show an increase of 7.7% (3057.9 million euros), partly influenced by the extension of tax payments to the IRS (32.5 million euros) and IRC (6 million euros) in September 2022,” says DGO.
On the surplus front, government accounts recorded “an adjusted budget surplus of €7.2 billion through September, €1.6 billion more than the same period last year,” the Treasury said. Late payments as of September amounted to 964.6 million euros, an increase of 54.8 million.
Author: Miguel Alexander Gagnan([email protected])
Source: CM Jornal
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