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Higher revenues from corporations and labour market (July 2016)

In comparison with previous forecast we expect higher accrued tax revenues for 2016, by EUR 278 mil. (0.4 % GDP) due to better CIT collection and strengthening labour market. The revision has increased tax revenues by EUR 224 mil. for 2017, EUR 128 mil. for 2018 and EUR 131 mil. for 2019. Main contributions to the revision are higher effectiveness in CIT, VAT and mineral oil collection. Revision of macroeconomic fundaments and new legislative measures partly offset increase of tax revenues in 2017 to 2019. Macroeconomic impacts arising from Brexit are not covered within the actual forecast.