Net revenue from VAT slumped in the first quarter of this year when compared to the same months last year, figures given in Parliament show.
Finance Minister Tonio Fenech tabled the following table, showing that revenue between January and March was €94,341,594 compared to €105,174,413 in the same three months last year.
The minister on Monday also revealed a sharp drop in revenue from taxes on property purchases (see http://www.timesofmalta.com/articles/view/20090428/local/incoem-tax )
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2008 |
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2009 |
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GROSS |
REFUNDS |
NET |
GROSS |
REFUNDS |
NET |
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JAN |
48,338,736 |
11,458,989 |
36,879,747 |
49,657,590 |
8,867,384 |
40,790,206 |
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FEB |
32,550,102 |
7,553,622 |
24,996,480 |
28,083,721 |
8,679,959 |
19,403,762 |
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MAR |
51,206,025 |
7,907,839 |
43,298,186 |
44,256,259 |
10,108,633 |
34,147,626 |
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132,094,863 |
26,920,450 |
105,174,413 |
121,997,570 |
27,655,976 |
94,341,594 |