May 7, 2020 / 5:25 PM / a month ago

German tax intake may fall 100 bln eur short of estimates - Handelsblatt

BERLIN, May 7 (Reuters) - German federal and state governments are likely to get about 100 billion euros less in tax revenues this year than previously estimated due to the effects of the coronavirus crisis, Handelsblatt business daily reported on Thursday.

The paper cited the experts who make the predictions. They are due to give their forecasts for the tax intake next week. The finance ministry’s last estimate was for minimum tax revenues of 82 billion euros, said the paper.

In the last few years bumper tax revenues have contributed to a budget surplus.

However, Europe’s biggest economy is braced for its deepest recession since World War Two due to the coronavirus lockdown. The government has already agreed a 750 billion euro stimulus package and said it will take on new debt for the first time since 2013.

A spokeswoman for the finance ministry declined to comment on the report. (Reporting by Madeline Chambers; Editing by Kirsten Donovan)

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