Finance ministry: Tax take up nearly 20 percent on year to Q1 2021
Tax revenue grew nearly 20 percent on year to the first quarter of 2021 (Q1 2021), the finance ministry reports, and totaled €1.77 billion, payable to the Tax and Customs Board (MTA).
The tax take increased for three consecutive months, with growth gradually accelerating, the finance ministry says, largely due to the low baseline in spring 2020 as the coronavirus pandemic arrived.
Vat payments for Q1 2021 exceeded even Q1 2019, prior to the crisi, by €47 million, at €605 million, the ministry says
At the end of Q1 2021, the total turnover of enterprises rose to 11.2 per cent year-on-year, despite lengthier restrictions than those of March 2020, the ministry says.
The growth of the wage bill affecting labor contributions rose 0.9 per cent year-on-year.
Payment of social tax increased by 13.3 percent in March on year.
In the first quarter, income tax rebates of €186 million were paid, €17 million on year.
The liberalization of the Estonian pension scheme which came into effect on January 1 meant pension holders cashed out €11 million in total in Q1 2021, the finance ministry reports.
The payment of excise duties increased by 27.9 per cent in the first quarter compared with the previous year, with the payment of fuel excise duty driving the growth.
This was caused by the low level of fuel excise duty last year.
Alcohol excise duty take fell on year, mainly due to restrictions which have prevented alcohol sales.
Beer excise take fell 13 percent on year, strong alcohol excise duty revenue fell by 17 percent.
In the latter case, a fall in sales of alcohol-based disinfectants had its effect.
Tobacco excise duty conversely rose, the ministry says, by 8.5 percent on year to Q1 2021, mainly due to higher excise duty liable on cigarettes.
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Andrew Whyte