Blog Posts - Tax Revenue

Brazil federal tax collection down sharply in June

Brazil collected 98.129 billion reais ($30 billion) in federal taxes in June, the government said on Thursday, down 7.14 percent from a year earlier when adjusted for inflation.
by TaxWorldWeb on Jul 28, 2016

Ruble touches 8-mth high as tax period begins in Russia

The Russian currency reached its highest value since November 2015 on Thursday, trading below 63 against the US dollar and below 70 against the euro.
by TaxWorldWeb on Jul 16, 2016

Tax revenue falls short of government estimate

Tax revenue collected by the central government in fiscal 2015 totaled around ¥56.28 trillion, government sources said, falling short of estimates as corporate tax revenue was reduced by the effects of a firming yen.
by TaxWorldWeb on Jun 28, 2016

Fitch: Brazil States Need Expenditure Cuts Despite Tax Rise

A recent report by Tesouro Nacional shows that efforts to modernize Brazil’s state and local government tax collection system and a shift in the economy to more formal businesses have led to a rise in tax collections. However, Fitch Ratings bel...
by TaxWorldWeb on Jun 16, 2016

Indirect tax collection soars 37% in April-May

Indirect tax collections rose by about 37 per cent during April-May compared to the same period of the last fiscal.
by TaxWorldWeb on Jun 9, 2016

Pakistan budget targets tax rises to shore up finances

Pakistan is targeting a near 16 percent rise in tax revenues in the fiscal year ending June 2017, Finance Minister Ishaq Dar said on Friday as he unveiled a budget aimed at shoring up the South Asian country’s finances.
by TaxWorldWeb on Jun 3, 2016

Tax revenues beating expectations by €774m

The Department of Finance has published the Exchequer returns for the first five months of the year and tax revenues are extremely healthy.
by TaxWorldWeb on Jun 2, 2016

Bold And Essential … IMF Approves Budget And Tax Plan

The International Monetary Fund (IMF) has approved the government’s budget and plan to raise the personal income tax threshold from $592,800 to $1 million come July 1.
by TaxWorldWeb on May 21, 2016

Brazil’s Tax Revenue Drops in April as Economic Stall Continues

Brazil’s tax revenue fell in April as the country’s recession persisted. Brazil’s tax agency said Thursday it collected 110.1 billion reais ($30.6 billion) in April, down 7.1% from April 2015. From January to April, revenue fell nea...
by TaxWorldWeb on May 19, 2016

Germany raises tax income forecast, bolstering budget plans

Germany has raised its forecast for government tax income thanks to a healthy economy and low unemployment, bolstering its insistence that it can continue to avoid running up new debt.
by TaxWorldWeb on May 4, 2016

World Bank: Lost tax revenue and missing aid money add to Palestine’s woes

Unfulfilled aid pledges and lost tax revenues are making life difficult for Palestinians, according to a recent World Bank report. A bad revenue-sharing deal with Israel costs the authority an estimated $285 million a year, the report shows, and only...
by TaxWorldWeb on Apr 19, 2016

Kenya seeks to boost tax collection to cut deficit

Kenya, whose budget deficit this fiscal year unnerved investors, is recruiting new taxpayers and investing in technology to boost collections, the head of its tax agency said on Tuesday.
by TaxWorldWeb on Apr 19, 2016

Israel Lowers Taxes Expects $1.3 Billion Surplus

The Knesset passed into law reducing the corporate tax rate from 26.5 percent to 25 percent. Last October the VAT (value added tax) was reduced from 18 to 17 percent.
by TaxWorldWeb on Jan 6, 2016

Government will have to provide extra money for HSE tax bill

The Government is expected to have to provide additional funding to the HSE to meet the cost of a €22.4 million settlement with the Revenue Commissioners in relation to unpaid taxes.
by TaxWorldWeb on Oct 22, 2015

Tax Collections Hit Record Highs With No Dip In Spending

With two more months left to go in the fiscal year, the feds are on a roll. Tax revenues for the first ten months of the fiscal year topped a record $2,672,414,000,000.
by TaxWorldWeb on Aug 13, 2015

Tax revenues miss target by 2.3 bln in first half of year

The black hole in tax revenues for the first half of the year came to 2.3 billion euros, while public spending came to a complete stop during the same period, leading to state expenditure being 4 billion euros lower than the forecast target.
by TaxWorldWeb on Jul 23, 2015

Iraq Closes Jordan Border Crossing To Deprive ISIS Of ‘Tax’ Money

Iraq closed its border crossing with Jordan until further notice to stop Islamic State militants from getting funds from truck drivers.
by TaxWorldWeb on Jul 16, 2015

Brazil Real Drops as Levy Says Stalled Economy Sinks Tax Revenue

Brazil’s real declined for a second straight day as Finance Minister Joaquim Levy said a stalled economy is reducing tax revenue, adding to concern that the administration is struggling to pare deficits.
by TaxWorldWeb on Jul 6, 2015

The ‘minor’ taxes that net £60bn for the Treasury

They can seem insignificant next to the big earners of income tax, VAT etc but stamp duty and other ‘minor’ taxes collectively raise £60bn a year.
by TaxWorldWeb on Jul 6, 2015

Government aims for 15.8% tax revenues growth in FY 2015-2016

The Ministry of Finance plans to increase tax revenues for the fiscal year (FY) 2015-2016 to EGP 422bn, compared to EGP 364.2bn in FY 2014-2015, a growth rate of 16.8%.
by TaxWorldWeb on Jun 20, 2015

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