Tax revenues climb significantly in August

Federal and state tax revenue increased significantly in August 2023. At 58.85 billion euros, they were 8.6 percent above the previous year’s level, as shown in the new monthly report from the Federal Ministry of Finance, which is to be published on Thursday. The ministry referred to a lower comparison basis in August 2022 due to the tax aid in the wake of the sharp increases in energy prices. This has now led to a significant increase in wage tax, sales tax, energy tax and capital gains tax.