Blog Posts - Tax Revenue

Indirect tax collections up 4.6% in April-June

Indirect tax collections stood at about Rs.1.13 trillion, first quarter of 2014-15 fiscal, as against Rs.1.08 lakh a year ago.
by TaxWorldWeb on Jul 18, 2014

BIR probes tax payments of banks, insurers

Tax collections for June fell short of the state’s ambitious monthly target yet again, prompting authorities to look into the effects on businesses of slow government spending and the City of Manila’s truck ban.
by TaxWorldWeb on Jul 18, 2014

China’s H1 tax revenue rises 8.5 pct

China’s tax revenue, a major source of the government’s fiscal income, grew 8.5 percent year on year in the first half of 2014, the Ministry of Finance (MOF) announced on Tuesday.
by TaxWorldWeb on Jul 15, 2014

Kenya Full-Year Tax Revenue Rose 20% on Trade, Petroleum Gains

Kenya tax revenue climbed 20 percent in the year through June, boosted by increased duties on oil and other imports, the country’s tax agency said.
by TaxWorldWeb on Jul 15, 2014

Size of income tax drop surprises U.S. states: study

Most U.S. states were surprised by the size of the drop in their personal income tax collections this April, even though they had expected a decline, according to a report released by the Rockefeller Institute of Government on Thursday.
by TaxWorldWeb on Jun 12, 2014

China’s tax revenues up 6.2% year-on-year to over one trillion yuan

The State Administration of Taxation says national tax revenue in May had increased 6.2 percent from a year earlier, reaching more than one trillion yuan. Tax revenue from the service sector has continued to surge this year, surpassing the country’...
by TaxWorldWeb on Jun 11, 2014

Puerto Rico may delay payments to beat $320 mln tax shortfall

Puerto Rico may reschedule payments to the Government Development Bank as well as the pension system for central government employees as it aims to reduce a $320 million tax revenue shortfall by the end of the fiscal year on June 30, the U.S. Commonw...
by TaxWorldWeb on Jun 10, 2014

Pakistan to fund growth through tax revenues, subsidy cuts

Pakistan will earmark about $40 billion for its next fiscal year’s budget, promising to revive sluggish growth by improving tax revenues and cutting subsidies, Finance Minister Ishaq Dar said in his annual budget speech in parliament.
by TaxWorldWeb on Jun 3, 2014

Argentina says tax income up 35.1 pct in May year on year

Argentina’s tax revenue jumped 35.1 percent in May from a year earlier to 105.07 billion pesos ($13.0 billion), the government said on Monday, coming in well above the median forecast of 103.95 billion pesos in a Reuters poll of analysts.
by TaxWorldWeb on Jun 2, 2014

France faces 14 BILLION-EURO black hole after it overestimates tax income in the last year

Francois Hollande is facing more criticism tonight after it emerged that France could have a 14billion-euro black hole in its public finances after hugely overestimating tax returns.
by TaxWorldWeb on May 28, 2014

Spain should increase tax take, get debt down – IMF

Spain needs to increase tax revenues to protect its public services and make further efforts to cut its budget deficit to ensure a lasting economic recovery, the International Monetary Fund said in a report on Tuesday.
by TaxWorldWeb on May 27, 2014

Taiwan Sees Record High Tax Revenues

Taiwan is seeing record high tax revenues despite the fact that tax refunds to businesses are exceeding collection of corporate income tax.
by TaxWorldWeb on May 12, 2014

Israeli budget deficit narrowing as tax collection improves

The government ran a budget deficit of only 900 million shekels ($261 million) in April compared with 2.8 billion a year earlier, as tax collections rose and spending grew slowly.
by TaxWorldWeb on May 12, 2014

Budget surplus on track as tax-take improves

The government’s lagging tax-take got a boost in March as later than expected filing of 2013 company tax returns bolstered the contribution from corporate taxpayers, allowing Finance Minister Bill English to confirm next week’s Budget wil...
by TaxWorldWeb on May 9, 2014

Germany trims 2014 tax intake estimate to 639.9 billion euros

The German government surprised with a slightly lower tax revenue estimate for 2014 on Thursday, which Finance Minister Wolfgang Schaeuble said left Germany no financial leeway to cut taxes as it prioritizes budget consolidation.
by TaxWorldWeb on May 8, 2014

Gross tax collection in 10 months stands at Rs 1.794 trillion

Federal tax collection have witnessed 15% growth during first ten months of the ongoing fiscal year 2013-14, gross tax collection amount ed to Rs.1.794 trillion in ongoing fiscal compared with Rs.1.588 trillion collection in same period of last fisca...
by TaxWorldWeb on May 2, 2014

Grey Market Costing Poland Millions in Tax Revenue

Part of the charm in states and countries legalizing online gambling has to be the taxes. In a market where people bet billions of dollars, why wouldn’t the government want to see a little return? As great as a bonus revenue stream can be, some cou...
by TaxWorldWeb on May 1, 2014

Colorado: Lots More Tax $$$ Than Expected

Follow the tax money to ultimate re-legalization. America loves money.   Colorado, the first state to tax legalized recreational marijuana sales, expects to bring in an estimated $98 million in revenue this year, exceeding the state’s orig...
by Hail Mary Jane on Apr 16, 2014

Philippine tax collector guns for higher revenues

The petite sharp-shooting bureaucrat in charge of getting Filipinos to pay their fair share of taxes couldn’t have chosen a higher profile target: Manny Pacquiao, the world champion boxer and hero to millions.
by TaxWorldWeb on Mar 28, 2014

Sweden Needs to Increase Tax Revenues

STOCKHOLM – The government of Sweden has new evidence that raising tax collections will not harm the national economy, and would help support national infrastructure.
by TaxWorldWeb on Mar 27, 2014

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