Bloomberg News

Germany Sees Additional 5 Billion-Euro Tax Haul, Spiegel Says

May 05, 2012

Germany’s total tax revenue for 2012 and 2013 will be about 5 billion euros ($6.5 billion) higher than estimated in November, Der Spiegel reported, citing calculations by the Federal Finance Ministry.

The figures will be combined with estimates from Chancellor Angela Merkel’s council of economic advisers, the Bundesbank and leading German economic institutes to derive a final forecast next week, the magazine said in an excerpt of a story to be published on May 7.

Finance Minister Wolfgang Schaeuble expects to raise 597 billion euros in federal, state and local taxes this year, and 618 billion euros in 2013, as the German economy and higher wages boost the country’s tax receipts, Der Spiegel said.

To contact the reporter on this story: Angela Cullen in Frankfurt at acullen8@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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