German tax revenues rose sharply during the month of March, broadly matching the government’s own expectations, according to a report by Reuters.
Confirming a weekend report by the business daily Handelsblatt, a German finance ministry spokesman told Reuters that tax revenues had risen by 9.7% in March 2005 compared to the previous year.
The spokesman indicated that revenues accruing from value added tax were particularly strong, although declining to elaborate on the statement.
A full report from the government is due in the coming days, but it is thought that Germany’s new toll for heavy goods vehicles has helped to lift tax revenues in recent times. The government is hoping for an extra EUR2.4 billion in revenues from this new source as it attempts to repair its fiscal position and avoid a fourth successive breach of the EU growth and stability pact’s budget deficit limit.
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