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The deficit reduction continues: dropped to 7.4% | Israel today

2021-10-12T20:51:02.150Z

The decrease could have been greater if the collection of tax payments, in the amount of NIS 8.2 billion, had not been postponed due to the holidays. • Tax Authority revenues in September: NIS 24.9 billion



The deficit continues to decline and stands at 7.4%, a decrease of more than 0.5% in the last month, according to a report published by the Ministry of Finance.

Last September, state tax revenues totaled NIS 25.4 billion.

An estimated collection of an additional NIS 8.2 billion was postponed to October due to the Tishrei holidays, according to the following breakdown: NIS 1.2 billion in direct taxes and NIS 7 billion in VAT. Without the postponement, revenues in September would have amounted to NIS 33.6 billion.

At uniform tax rates (less legislative amendments, deferred payments, early vehicle imports and exceptional revenues), including additional revenue deferred to October, state tax revenues in September 2021 increased in real terms by 17% compared to September 2020. Direct tax collection increased by 25%, The collection of indirect taxes increased by 9% and the collection of fees increased by 2%.

In direct taxes, there was a significant increase in income from all types of tax.

Compared to September 2019, tax revenues increased by 19%: a 26% increase in direct tax revenues and an 11% increase in indirect tax revenues.

In January-September 2021, revenues amounted to NIS 275.8 billion, compared with NIS 230.4 billion in the corresponding period last year.

At uniform tax rates, this is an increase of about 23%.

Direct tax revenues increased by 26%, indirect tax revenues increased by 19% and fee income increased by 5%.

Compared to January-September 2019, tax revenues increased by 19% - direct tax revenues increased by 25% and indirect tax revenues increased by 12%.

The Tax Authority's revenues in September amounted to NIS 24.9 billion, compared with NIS 27.5 billion in September 2020. Were it not for the postponement of part of the collection to the beginning of October due to the holidays, revenues in September would have amounted to NIS 33.1 billion.

At uniform tax rates, the revenues of the Tax Authority increased by about 17% compared to September 2020. Direct taxes increased by 25% and indirect taxes increased by 9%.

Revenue from indirect taxes in the last month amounted to NIS 7.9 billion.

As mentioned, an additional collection of an additional NIS 7 billion was postponed to October due to the holidays, so without the postponement, indirect tax revenues in September would have amounted to NIS 14.9 billion, compared with NIS 13.2 billion in the corresponding period last year - a 9% increase in uniform tax rates.

In total, in January-September this year, revenues increased by 19% compared to January-September last year, and by 12% compared to the corresponding months in 2019.

Revenues from excise fuel amounted to NIS 1.8 billion in September (NIS 1.6 billion after offsetting diesel refunds), a decrease of 4% compared to the same period last year, due to the shortage of working days when travel is generally higher than on holidays.

In January-September 2021, which includes January, which belongs to the third closure, revenues from excise duty increased by 4% compared with the corresponding period in 2020.

Compared to January-September 2019, revenues from excise duty decreased by 8%, partly as a result of streamlining of new vehicles and a decrease in travel during the holidays, the third closure and the Wall Guard operation.

Since the beginning of 2021, revenues from government fees have totaled more than NIS 5 billion.

Source: israelhayom

All news articles on 2021-10-12

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