German Federal Tax Revenue Grew 9.1% in April, Fastest This Year
German federal and state tax revenue expanded the fastest this year in April compared with a year earlier, mirroring the robust state of the economy, a Finance Ministry report showed.
Economic growth of 0.5 percent in the first quarter helped federal tax revenue grow 9.1 percent in April compared with a year ago while state taxes grew 13.3 percent on the year, the Berlin-based ministry said today in its report for the month.
Most federal taxes grew with the exception of the duty on electrical power, the ministry said. The states registered the biggest gain, 32 percent, through local property tax, it said.
Europe’s biggest economy benefited from the growth in exports to countries outside Europe, reduced unemployment that is boosting domestic consumption and industrial production which regained traction toward the end of the first quarter, the report said.
This year’s wage settlements in key industries such as the 6.5 percent gained by federal and municipal workers are not expected to boost inflation in Germany, the report said.
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