Figures released by New Zealand’s Treasury Department on Thursday have revealed that the government’s tax revenues in March 2004 were 3% higher than forecast.
According to the data, total revenue received by the Treasury equalled NZ$4.655 billion last month, some NZ$135 million above the government’s forecast.
The figures were boosted by a better then expected take from corporate and indirect taxes.
Corporate taxes came in at 15% above estimates in March to total NZ$976 million, whilst indirect taxes, which included GST and taxes on alcohol and cigarettes, among other charges, were 3.7% higher than forecast at NZ$1.44 billion.
However, personal taxes were lower than government predictions by 2% at $2.448 billion, and total tax revenues for the nine months to March 2004 were 0.9% below forecast at NZ$32.559 billion, the data showed.
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