The Report on tax revenues of the Ministry's Accounting and Finance Department of the Economy raises the alarm for the state accounts. Despite growing in absolute terms, tax revenues for the first 4 months of 2012 are 3.477 million euro lower than the annual forecasts contained in the Economic and Financial Document. A difference estimated at around 2,9%. To these lost revenues we must then imagine that the effects of the earthquake will be added with the foreseeable further drop in revenue, on the VAT and Irpef front. Not to mention the increase in expenses.
The revenue from the State budget for -3.140 million euros contributes to the difference with respect to the forecasts (-2,7%) and in particular the VAT revenue which reflects factors of a cyclical nature. Registers also decreased by -93 million euros (-4,5%), corrective items by -160 million euros (-2,2%) and the tax revenues of local authorities by -84 million euros (- 1,2%).
In the first 4 months of 2012 tax revenues amounted to 117.030 million, +1,3% compared to the same period of 2011. For a homogeneous comparison, it should be noted that net of the one-off substitute tax on property leasing in April 2011, there was a growth of 2,5%.
Direct taxes show a positive change of 0,5% (+316 million euros). The Ire revenue - reports the Department of Finance of the Ministry of the Economy - instead showed a slight contraction of 0,5% (-280 million euros) attributable to the negative trend of withholding taxes on self-employed workers (-2,4%) and civil servants (-0,8%) partially offset by the positive trend in withholding taxes for private employees (+1,4). Ires revenue generated an increase of 7,9% (+103 million euro) due to the expiry of taxpayers' payment terms with exercise not coinciding with the calendar year. Among other direct taxes, we note the growth in the substitute tax on withholding taxes, interest and other capital income (+554 million euros, equal to +26,7%) influenced by various technical-regulatory factors and in particular by the amendments contributed to the tax regime of financial income.
