Blog Posts - Tax Revenue

BOC tax take down 8.5% in April

Import duties and other taxes collected by the Bureau of Customs (BOC) last April slid by 8.5 percent to P28.1 billion, as the take from imported oil fell by more than half year-on-year.
by TaxWorldWeb on Jun 17, 2015

Higher tax mop-up makes finance ministry seek spending hike; to use it for roads, shipping, agriculture

Buoyed by higher tax collections, the finance ministry has loosened the purse strings and asked ministries and departments to start spending as it looks to lift growth with private sector investment yet to get underway. The rider is that the focus sh...
by TaxWorldWeb on Jun 15, 2015

Revenue receives additional €9m tax settlements as deadline approaches

The Revenue Commissioners has said it received an additional €9 million in tax settlements last week. The payments in advance of the Tax-Avoidance Settlement Opportunity deadline doubled in the last week, as the June 30th deadline approaches.
by TaxWorldWeb on Jun 12, 2015

Puerto Rico tax revenue drops 14.1 percent in May -Treasury

Puerto Rico’s net tax haul was $646.9 million in May, 14.1 percent below the same month last year, the U.S. territory’s Treasury said in a statement on Friday.
by TaxWorldWeb on Jun 12, 2015

4-month tax revenue hits 15-year high: MOF

The Finance Ministry said yesterday that tax revenue from January through April reached NT$456 billion, the highest for the period in 15 years.
by TaxWorldWeb on May 11, 2015

Tax collection set for B160bn shortfall as economy falters

The Revenue Department estimates it will miss its tax collection target by no more than 160 billion baht for fiscal 2015 after it was off target by 35 billion in the five months through February.
by TaxWorldWeb on Mar 25, 2015

Ruble Advances for Third Day as Tax Payments Outweigh Oil Slump

The ruble strengthened for a third day as speculation that looming corporate tax payments will boost demand for the currency offset lower crude prices.
by TaxWorldWeb on Mar 18, 2015

Greece stems decline in tax revenues in February

Greek tax revenues dipped slightly in February, but there was no repeat of the calamitous fall in January, the Finance Ministry said on Friday, bringing some relief to the government as it tries to negotiate a new bailout deal with Europe.
by TaxWorldWeb on Mar 13, 2015

Puerto Rico February tax take up 5.9 pct yr-on-yr to $709.3 mln

Puerto Rico’s net tax haul in February was $709.3 million, up 5.9 percent compared to a year earlier, but $6.5 million shy of the government’s forecast, Puerto Rico’s Treasury Department said in a statement on Friday.
by TaxWorldWeb on Mar 13, 2015

Indirect tax revenues up 8.4% in April-February

With just 20 days for the fiscal year to end, the Centre is betting big on a surge in economic activity to help achieve the revised target on indirect taxes.
by TaxWorldWeb on Mar 11, 2015

Direct tax collections up 11.38 per cent in April-January FY’15

Direct tax collections increased by 11.38 per cent to Rs 5.78 lakh crore during the April-January period of current financial year.
by TaxWorldWeb on Feb 13, 2015

WB urges PHL tax reforms to raise money for investments

It has been said over and over again that raising investments for infrastructure, health and education is key to higher economic growth and eradicating poverty.
by TaxWorldWeb on Jan 15, 2015

Government meets 60.6 per cent indirect tax collection target during April-December

Government today said it has collected Rs 3.77 lakh crore, or 60.6 per cent, of budget target for indirect tax by December 2014.
by TaxWorldWeb on Jan 13, 2015

Direct tax collections rise 5.67% during Apr-Nov

The government’s direct tax collections during April-November of this fiscal rose 5.67 percent to Rs 3.29 lakh crore over the same period a year ago.
by TaxWorldWeb on Dec 23, 2014

Canada’s Budget Deficit Widens on Tax-Relief Measures

Canada in October recorded its biggest monthly budget deficit since last March after taking a 1.6 billion Canadian dollar ($1.38 billion) charge to cover the year-to-date costs of new tax-relief measures.
by TaxWorldWeb on Dec 22, 2014

UK museums receive £45m of art in inheritance-tax windfall

Works of art valued at £45m, including an early painting by Van Gogh, a portrait by John Constable and a medieval manuscript from Chatsworth that was once the most expensive book ever sold, has been accepted by the UK government in lieu of taxes and...
by TaxWorldWeb on Dec 2, 2014

Gov’t tax effort rises to 14% of GDP

The government’s tax effort rose to 14.1 percent of the country’s gross domestic product in the nine months through September from only 13.7 percent in the same period last year, mainly driven by efforts to improve tax administration and expendit...
by TaxWorldWeb on Dec 2, 2014

Tax revenues reach Rp 812.1 trillion

Indonesia’s tax revenues amounted to Rp 812.1 trillion as of November 2014, accounting for 75.73 percent of the target of Rp 1.072 quadrillion in the revised 2014 state budget, according to data from the Finance Ministry’s directorate general of...
by TaxWorldWeb on Nov 29, 2014

Iran eyes tighter spending, more tax to offset lost oil revenues

Iran plans to tighten spending and raise taxes to help offset the negative impact of sharply lower oil prices and international sanctions on the state budget, its oil minister said.
by TaxWorldWeb on Nov 15, 2014

European arrest warrant move set to put £100m tax at risk

Britain will lose over £100m a year in tax evasion and face increased risks of fraud, money laundering and counterfeiting if it pulls out of the common European arrest warrant and other common EU justice measures, Treasury ministers have warned.
by TaxWorldWeb on Nov 6, 2014

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