Tax revenue overshoot in Jan-Sept

Personal and corporate income taxes and value-added tax are the main contributors to the overperformance of tax revenues against the state budget target, as Wednesday's final execution data for January-September showed.

VAT revenues amounted to 17.2 billion euros and were €779 million above the target. Income tax revenues amounted to €14.92 billion, beating the target by €614 million. Personal income tax was €830 million above the target and corporate income tax was €569 million higher than had been planned for.

Overall, tax revenues were up by €3.09 billion or 7.4% and amounted to €44.91 billion. Part of this increase, approximately €470 million, concerns the extension of the deadline for the payment of road tax until the end of February 2023, although it concerned the year 2022.

The budget recorded a primary surplus of €5.987 billion, against a target for a...