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Tax income hits March record

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Tax income hits March record
Finance Minister Wolfgang Schäuble with Chancellor Angela Merkel. Photo: DPA
11:55 CEST+02:00
A record amount of cash flowed into German government coffers in March thanks to land, beer and incomes taxes, a monthly report from the finance ministry revealed on Tuesday.

Tax revenue hit a total of €55.36 billion in March, an increase of 7.2 percent on the same month in 2013. This was thanks largely to a jump in income tax both on a national and state level.

Nationally, Germany made 6.7 percent more from income tax than it did in March 2013. States on average made 7.1 percent more in March than a year ago.

The country's 16 states on average earned 22.7 percent more in state-specific taxes. This jump was largely due to individual taxes. Inheritance tax sprang up by 38.6 percent, beer tax by 16 percent and land transfer tax by 23.2 percent.

Germany saw its coffers swell by €140 billion in tax revenue in the first three months of 2014 – 3.7 percent more than the same space of time in 2013. This is a better performance than financial forecasters offered back in November.

SEE ALSO: Thousands of tax evaders come forward to declare

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