Revenue collapsed in January: The tax authorities are also suffering from the lockdown

Revenue slumped in January
The tax authorities are also suffering from the lockdown

As a result of the lockdown in January, the state treasury received significantly less than last year. In its monthly report, the Ministry of Finance also looks rather gloomy into the near future: The economy is likely to suffer from the measures for a while.

German tax revenues fell significantly again at the beginning of the year in view of the corona restrictions. In January they decreased by 11.1 percent compared to the same month last year, excluding local taxes, as the Federal Ministry of Finance announced in its monthly report. That was significantly stronger than in the three previous months: in December 2020 they had fallen by 2.1 percent, in November by 7.0 percent and in October by 8.8 percent. In September the decline was 12.8 percent.

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(Photo: dpa)

The federal government posted 12.8 percent less tax revenue in January and achieved a revenue of 16.3 billion euros. The federal states received 22.9 billion euros, 10.0 percent less. In total, the revenues amounted to around 46.9 billion euros.

"The economic effects of the Corona crisis continued to burden tax revenue," said the Ministry of Finance. As in previous months, the effects of so-called sub-statutory measures in connection with the coronavirus such as deferrals, the refusal to take enforcement measures and a reduction in advance payments would have influenced tax revenue.

According to the information, the income of the federal budget amounted to around 17.1 billion euros in January and was thus 16.3 percent lower than in January of the previous year, which was based in particular on the effects of the coronavirus pandemic and tax relief measures to cope with it . At 54.2 billion euros, expenditure in the federal budget was 33.9 percent above the previous year's level. Much of the higher spending was spent on ongoing social security transfers.

Regarding the further development of the economy, the ministry's economists stated that the measures to contain the spread of the virus due to the course of the pandemic, as well as the sentiment indicators, indicated "that a slowdown in economic development can be expected for the next few weeks".

. (tagsToTranslate) Economy (t) Tax revenue (t) Federal Ministry of Finance