VAT revenue in first quarter
The government's net VAT revenue in the first quarter of 2009 amounted to €94,341,594, Finance Minister Tonio Fenech told Parliament when replying to a parliamentary question by Carmelo Abela (PL).
By comparison, the net revenue for the first quarter of 2008 was €105,174,413.
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Steven Brockwell
May 6th 2009, 14:26
By comparison, the net revenue for the first quarter of 2008 was €105,174,413.? if we had a vat fraud going on that ran into millions then last years vat should have been much higher than it is showing ? meaning the gap should be bigger shouldn't it ???
Galea. L
May 6th 2009, 13:21
At 18% VAT approximately 11 Million roughly translates to about 60 million less spending.
Is Gonzi now surprised that everyone has been saying for months on end that the economy has been contracting?