# German tax revenues fall in August for first time this year
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-09-22
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: German Tax Revenues Fall: Economic Outlook Deteriorates
Meta Description: Federal and state tax take in Germany declined by 2.6% in August compared to last year, with gas shortages and high energy prices impacting the economic
URL: https://financedigest.com/german-tax-revenues-fall-in-august-for-first-time-this-yearhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-09-22t001845z1lynxmpei8l00frtroptp4germany-economy-tax-1736815175327-compressed.jpg)

BERLIN (Reuters) – Federal and state government tax revenues fell in Europe’s biggest economy during August for the first time this year, the finance ministry said on Thursday.

In its monthly report, the ministry said the tax take was down 2.6% to 54.21 billion euros ($53.52 billion) year-on-year compared with a 0.3% increase in July. Only payroll tax and sales tax showed slight increases, the report said.

In first eight months of the year, federal and state [tax revenues rose by 12.8% to 522.26 billion](https://www.financedigest.com/walmart-paid-most-of-1-billion-tax-for-phonepe-shifting-base-to-india.html "Walmart paid most of  billion tax for PhonePe shifting base to India") euros.

Especially in the first half, this was partly due to the [weak](https://www.financedigest.com/dsm-misses-q1-forecasts-due-to-weak-volumes-and-high-costs.html "DSM misses Q1 forecasts due to weak volumes and high costs") comparison figure for 2021 due to the economic effects of the coronavirus pandemic,” the ministry said.

Thanks to a near halt in gas supplies from Russia and extraordinarily high energy prices, the economic [outlook for the second half of the year](https://www.financedigest.com/2017-cfo-outlook-top-priorities-as-new-year-gets-underway.html "2017 CFO Outlook: Top Priorities as New Year Gets Underway") had deteriorated despite a relatively robust first half, the report said.

Earlier this month the Ifo institute said it expected the German economy to shrink [next year](https://www.financedigest.com/1-in-10-workers-considering-a-career-change-in-the-next-year.html "1 in 10 workers considering a career change in the next year") and cut its growth forecast for this year to 1.6%.

($1 = 1.0129 euros)

(Reporting by Christian Kraemer; Writing by Madeline Chambers. Editing by Jane Merriman)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---