HomeWorldState will collect significantly less taxes in 2020 | Free press

State will collect significantly less taxes in 2020 | Free press

New monthly report from the Federal Treasury Department: Tax revenues from federal, state and local governments have decreased 7.3 percent to about $ 682 billion compared to the previous year.

Berlin (dpa) – The state received significantly less taxes last year as a result of the Corona crisis.

Federal, state and municipal tax revenues – excluding local taxes – decreased 7.3 percent to approximately 682 billion euros compared to the previous year. This is evident from the new monthly report from the Federal Ministry of Finance. The negative was less pronounced than predicted in the tax estimate.

Tax revenues developed significantly better than expected in December. In December, the year-on-year decline was 2.1 percent. Over the year as a whole, aviation tax in particular fell sharply by 75 percent. Sales tax fell by 9.8 percent and corporate tax by 24.2 percent.

Background of the decline in tax revenues: In the fight against the corona virus, there was a lockdown in the spring and November with the closure of many stores. The turnover and profit of many companies collapsed. The state decided to provide billions in aid and relief for businesses.

The federal government took on massive debt and suspended the debt brake enshrined in the Basic Law. Chancellor Helge Braun (CDU) recently began a debate on how to move forward with the debt brake. It only allows new loans to a very limited extent. However, the corona crisis continues.

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