18/10/2004 13:51
According to StockWatch official data, the revenues of the Inland Revenue Department in September 2004 recorded an increase of 19% compared to the corresponding month of 2003, while total revenues for January-September showed an increase of 6% compared to the corresponding period of 2003.
In January-September, the Inland Revenue Department received £413.301.908 against £391.400.033 in the corresponding period of 2003 (+£21.901.875). In September, total IRD revenues reached £68.307.684 against £57.544.336 in September 2003 (+£10.763.348).
The increase in the IRD revenues is mostly attributable to the taxation of the capital gains, which added £13.8 million in the State Fund due to the increased activity in the property market. For September, this increase reached 73% or £1.8 million. Meanwhile, the revenues from the tax on movable assets recorded a sharp increase of 20%, however the additional benefit for the state dropped to £0.8 million.
The IRD revenues from the Corporate Tax for the domestic and off-shore companies in January-September 2004 showed an increase of 8% and 6% to £6,1 and £2,6 million respectively. The revenues from the payment of income tax by private employees increased by 1% or £546 thousand, while revenues from the income tax paid by employees of off-shore companies fell by 2% or £109 thousand. Total revenues from the income tax of the civil servants dropped 7% or £3.3 million. It is worth noting that the revenues from the employees of the off-shore companies increased by 91% in September, from the civil servants by 30% and from the private employees by 15%.
In January-September, revenues from the taxation of the self-employed citizens showed an increase of 6% or £1.1 million.
In January-September, the Inland Revenue Department received £413.301.908 against £391.400.033 in the corresponding period of 2003 (+£21.901.875). In September, total IRD revenues reached £68.307.684 against £57.544.336 in September 2003 (+£10.763.348).
The increase in the IRD revenues is mostly attributable to the taxation of the capital gains, which added £13.8 million in the State Fund due to the increased activity in the property market. For September, this increase reached 73% or £1.8 million. Meanwhile, the revenues from the tax on movable assets recorded a sharp increase of 20%, however the additional benefit for the state dropped to £0.8 million.
The IRD revenues from the Corporate Tax for the domestic and off-shore companies in January-September 2004 showed an increase of 8% and 6% to £6,1 and £2,6 million respectively. The revenues from the payment of income tax by private employees increased by 1% or £546 thousand, while revenues from the income tax paid by employees of off-shore companies fell by 2% or £109 thousand. Total revenues from the income tax of the civil servants dropped 7% or £3.3 million. It is worth noting that the revenues from the employees of the off-shore companies increased by 91% in September, from the civil servants by 30% and from the private employees by 15%.
In January-September, revenues from the taxation of the self-employed citizens showed an increase of 6% or £1.1 million.
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