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Germany 'expects more tax revenue'

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Germany 'expects more tax revenue'

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Germany is likely to collect 62.5 billion euros more in tax revenues than previously expected between 2010 and 2012.

That was according to a leak of a finance ministry draft document prepared for discussion at a meeting of tax experts which was due to issue an official estimate on Thursday.

The finance ministry draft credited the rise on a faster-than-expected recovery in Germany’s economy.

According to a source, the document raises an estimate made in May for 510.3 billion euros total tax take in 2010 by some 17 billion euros.

The draft sees 22.5 billion euros more tax revenue in 2011 and 23 billion euros more in 2012.

The panel of tax experts had in May forecast 515.0 billion euros tax take for 2011 and 539.8 billion euros tax take for 2012.