Tax Settlement "to win"

An increased rate of taxation, fees and levies was the accomplished aim of the Ministry of Finance towards the end of the year, since public revenue reached five billion in November, rising by 19.5% in comparison to last year's revenue (when it hit rock bottom). The tax settlement decision undertaken by the Public sector played an important part, turning in 700 million euro.

In the space of 11 months, between January and November, returns rose by 5% to 45.5 billion, instead of a 3.8% rise within 10 months and the planned target of 6% for this year.

Tax revenue increased by 10.4% in November whereas during the last 11 months there had been a noteworthy 5% increase (against a 4.4% increase in 10 out of 11 of those months). Customs revenues improved by 33% compared to November 2009. At the same time, tax returns were augmented to about 40%.

With this newly discovered data, as concerns the government's aim for the 2011 budget, it is estimated that the Public sector must have revenue of around 6 billion within December, which the finance committee thinks is attainable. The committee counts on the increased demand on products consumed or purchased during the holiday season

A call for sweeping changes in Economy and Society