Germany's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Tax coffers swell again on shopping and jobs

Share this article

Tax coffers swell again on shopping and jobs
Income from sales taxes rose by 4.5 percent. Photo: DPA
10:26 CET+01:00
A booming job market and an increase in consumer spending saw Germany's tax receipts grow again in October, putting €39 billion into government coffers.

The finance ministry said tax receipts rose 3.7 percent, an increase of €1.4 billion compared to October last year, the Handelsblatt newspaper reported.

The main cause of growth was rising receipts from income tax, which leapt by 6.7 percent to €12 billion.

Meanwhile, a rise in consumer spending meant government income from sales tax increased by 4.5 percent to €16 billion, the Handelsblatt reported. 

READ MORE: 'Germany's flagship projects should be in private hands'

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

This cloud-based agency takes remote working to the next level

Be honest, who hasn't dreamed of working remotely with all the perks of employment? If you've got the skills, you only need to look UP to make that dream a reality.