Spain 2012 tax revenue comes in at 123 bln euros

MADRID Tue Jan 29, 2013 6:30am EST

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MADRID Jan 29 (Reuters) - Spain's non-financial revenue, after transfers to regional governments, was 123 billion euros ($166 billion) last year, higher than the 119 billion euros targeted in the 2012 budget, Treasury Minister Cristobal Montoro said on Tuesday.

Montoro said at a news conference that measures taken by the government meant that tax revenue had recovered from a steep fall between 2007 and 2009 when Spain began its ongoing economic crisis after the bottom fell out of the housing market.

He said corporate tax revenue rose more than 29 percent in 2012 from 2011.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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