Revised tax projection for 2021 noticeably decreased

In light of the ongoing pandemic, Germany's tax revenue forecasts for the next few years have been revised, according to the latest reports.

The official tax forecast for 2021 has been revised downwards by approximately 20 billion euros compared to the May 2020 forecast. The tax revenue forecast for 2022 has been adjusted down by an additional -5.5 billion euros, and for 2023, it has been adjusted down by -4.4 billion euros.

Despite these downward revisions, the finance minister, Olaf Scholz, stated that economically, the worst of the pandemic might be behind us. He made this statement in a recent press conference, where he also emphasised the importance of the government's efforts to support businesses and individuals during these challenging times.

The total tax revenue expected for 2020 remains at 717.7 billion euros. However, the distribution of these revenues between the federal government and the states has seen a shift. While tax revenues for 2020 will be lower for the federal government by 9.2 billion euros, states will see higher revenues of 9.3 billion euros. Municipalities will also see an increase in tax revenues of 1.4 billion euros in 2020.

The expected surplus in 2024 is primarily due to lower EU payments, as stated by the Ministry of Finance. This means that the tax revenue forecast for 2024 remains stable, with an expected surplus of 3.0 billion euros for the federal government.

It's important to note that while specific companies or organizations have not been publicly identified as having failed to pay taxes as expected between 2021 and 2023, tax evasion in Germany is estimated to be up to 125 billion euros annually. This broadly affects tax income.

The news article features a photo of a tax office, according to dts Nachrichtenagentur. The article can be shared via email or directly through various social media platforms.

In conclusion, while the tax revenue forecasts for the next few years have been revised downwards, the government remains committed to supporting businesses and individuals during these challenging times. The expected surplus in 2024 is primarily due to lower EU payments, and the total tax revenue for 2020 remains at 717.7 billion euros.