Tax revenue in seven months to July up 8% YoY as income rises

  • Lusa
  • 26 August 2021

Tax revenue in Portugal in the first seven months of this year was €1.7 billion or 8% greater than in the same period of 2020.

Tax revenue in Portugal in the first seven months of this year was €1.7 billion or 8% greater than in the same period of 2020, driven by strong increases in revenue from personal income tax and corporate income tax, according to a summary of budget execution for the period.

“With regard to the net tax revenue of the State sub-sector accumulated in the first seven months of 2021, there was a growth of 1,711.5 million euros (+8%), compared to the same period last year,” said the information released today by the Directorate General of the Budget (DGO).

Cumulative tax revenue for the first seven months of this year was €23,114.2 million, it said.

In the first six months of the year, cumulative tax revenue was €21,402.7 million, up just 2.44% on a year earlier, the previous month’s release had shown.

Pandemic cost state €4.7B in first 7 months of year

Lusa,

According to the Directorate-General of the Budget (DGO), the Covid-19 pandemic cost the Portuguese state €4,697.7 million in the first seven months of this year.