Tax revenue up 5.3 percent second quarter

| Sat, 10/06/2007 - 03:37

Tax revenue up 5.3 percent second quarterItaly's tax revenue increased by 5.3 percent year-on-year in the second three months of 2007, statistics institute ISTAT said Wednesday.

The tax revenue accounted for 46.9 percent of the country's gross domestic product (GDP), compared to 46.5 percent a year previously.

The revenue rose 5.3 percent due to a 4.4 percent growth in direct tax revenue, a 4.5 percent increase in indirect tax revenue and an 8.8 percent rise in the revenue from social security contributions.

The capital-account revenue fell 0.9 percent.

Italy's tax revenue increased by 17.9 percent year-on-year in September 2007.

The growth was chiefly due to increased revenue from the corporate tax IRES.

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