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Higher wages play the first fiddle (February 2019)

 Forecast of tax revenues and social contributions for 2018 to 2022 (February 2019)

The current forecast estimates slightly higher tax revenues for 2019 – 2022. Last year’s estimate was decreased by EUR 66 mill. (0.07% GDP) due to actual tax developments. Over the whole horizon, the stronger wage growth is positively contributing towards higher revenues. On the contrary, new legislation reduces the yield somewhat.