Tax revenue exceeded targets in 2018, report says
Tax revenue exceeded targets in 2018, while taxpayers showed high levels of compliance, the Independent Authority for Public Revenue (AADE) said on Tuesday.
AADE, in an annual report, said that tax revenue totaled 51.867 billion euros in 2018, up from a budget target for 51.05 billion euros. A 57.3 pct of taxpaers with new arrears either repaid or settled their debt, up from a target of 52 pct, while a 90.9 pct of income tax and corporate tax, special property tax and VAT were collected on time.
AADE completed 26,364 tax inspections and collected 439.3 million euros from fines, up from 343.5 million in 2017. The report also said that auctions fell by 13.6 pct in 2018 compared with the previous year, while confiscations due to arrears dropped 52.5 pct over the same period.
Private sector arrears to the state totaled 104.365 billion euros in 2018, of which 3.5 pct was in a debt settlement program. AADE said the number of taxpayers with arrears totaled 4,064,750 in 2018, down from 4,068,857 in 2017.
Source: ana-mpa
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