German Tax Revenue Plunges 25.3% in April: Finance Ministry

German total tax revenue, excluding local authority taxes, falls 25.3% in April compared with the same month a year earlier, Finance Ministry says in monthly report.

• Tax revenue down 3.1% y/y in January-April period
  • Federal income -32.3% y/y in April, states’ revenue -25.4%
• Leading indicators suggest economic weakness will persist in coming months: ministry
  • Uncertainty about pandemic brings considerable risks to outlook
• NOTE, May 14: Germany’s Tax Income to Tumble $106 Billion on Coronavirus Fallout
• NOTE, May 19: German Investor Confidence Jumps on Hopes Worst of Pandemic Over

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