The German government’s tax revenue declined 8.3% last month compared to March last year, the Finance Ministry says in its monthly report published Tuesday.
- VAT revenue in March fell by 10.8% y/y after the government introduced nationwide shop closures in the second half of the month
- Germany’s overall tax revenue declined 1.8% in March y/y
- Full tax impact of corona crisis will be felt later, as the government’s tax relief for companies and the expected drop in income taxes will be registered in April, Finance Ministry says
- “This is a very big crisis, it will cost many billions”, German Finance ...
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