Revenue from personal income tax up by €40.3 million last year

Total tax revenues last year amounted to €1,994.6 million, with a tax burden of 34.7 per cent, the NSO said today.

Total tax revenue during 2009 went up by €27.3 million over the previous year, and stood at €1,994.6 million.

The NSO said the increase came from higher revenues from direct taxes particularly income tax. During 2009, direct taxes went up by €51.6 million to €809.4 million, making up 40.6 per cent of total tax revenue. Revenue from personal and corporate income tax went up by €40.3 million and €1.8 million respectively. Other current taxes increased by €10.6 million.

On the other hand, revenue from indirect taxes saw a drop of €24.3 million to reach €833.4 million. This tax category is mainly made up of VAT and taxes on products (including excise duties), both of which exhibited a fall. Taxes on products declined by €26.0 million, whereas consumption taxes went down by €1.6 million.

These declines were partly outweighed by higher income from other taxes on production.

Social contributions stood at €351.8 million, or 17.6 per cent of the total tax revenue.