In the first six months of the year, the tax revenues ascertained on the basis of the criterion of legal competence amounted to 242.87 billion euros, with an increase of 13.5% over 2021. This indication is provided by the Ministry of Economy and of Finance, explaining that “the significant increase” is mainly influenced by three factors: the “dragging of the positive effects on revenues determined starting from 2021, by the effects of the extensions, suspensions and resumption of tax payments provided for by the Relaunch and August decrees and by the effects of the increase in consumer prices which have influenced, in particular, the growth in VAT revenue “.
Both direct taxes (+ 31.3%) and indirect taxes (+ 11.3%) grow
In June, tax revenues amounted to 54,203 million euros (+10,389 million euros, + 23.7%). In particular, direct taxes had an increase in revenue of € 8,507 million (+ 31.3%) and indirect taxes recorded a positive trend of € 1,882 million (+ 11.3%). In the first six months, direct taxes amounted to € 131,590 million (+ 11.6%).
The substitute tax on capital gains and capital gains is paid
The income from personal income tax amounted to 99,598 million (+ 4.2%). In particular, withholding taxes on the income of employees in the private sector recorded a + 3.5% and withholdings for self-employed workers an increase of 8.4%, while withholding taxes on the income of public sector employees decreased (-0 , 5%). Payments for self-settlement marked a + 49.3%. Significant increases in revenue – highlights the Mef – were recorded for the substitute tax on income from capital and capital gains (+1,324 million, + 151.8%) due to the favorable trend of the asset management market in 2021. It grows also the substitute tax on the asset value of the pension funds (+1,038 million, + 102.7%). Note the increase in IRES of € 6,158 million (+ 74.7%). Finally, the substitute tax on income as well as withholdings on interest and other capital income had a + 7% and withholding taxes on profits distributed by legal entities a + 33.6%.
VAT contribution: + 19.5%
Indirect taxes amounted to € 111,287 million, an increase of 15.9%. VAT contributed to the positive trend, with an increase in revenue of 12,115 million euros (+ 19.5%), in particular the component relating to internal exchanges showed an increase of 7,869 million (+ 14.2%) , while VAT on imports recorded an increase of 63.7%. This last result is largely linked – it is explained – to the trend in the price of oil which has grown. Among other indirect taxes, revenue from stamp duty (+ 19.1%) and registration tax (+ 5.9%) recorded positive trends, while insurance tax had a negative change (- 0.8%).
+ 36% for gaming revenue
Gaming-related revenue increased by € 1,902 million (+ 36%). While the revenue from tax revenues deriving from verification and control activities showed an increase to 2,518 million (+ 70.8%): in particular 1,792 million euro (+ 104.2%) flowed from direct taxes and 725 million euros (+ 39.4%) from indirect taxes. The comparison with the same period last year is not homogeneous as in 2021 the collection activities were suspended until 31 August 2021.