State over-collects NIS 2.5b. in first 9 months

Tax revenues grew faster than the GDP, the ITA noted, adding that this is typical of periods of accelerated economic growth.

Since the beginning of the year, Israel's government has collected NIS 2.5 billion beyond the revenue target on which the 2005 budget was based, the Israel Tax Authority said Sunday. The state collected NIS 122.9b. in taxes and fees during the first nine months of the year, 7.4% in real terms above the NIS 113.3b. collected in the same period of 2004. Tax revenues grew faster than the GDP, the ITA noted, adding that this is typical of periods of accelerated economic growth. State revenues totalled nearly NIS 14.6b. in September alone, representing a real rise of 11.8 percent from the NIS 12.8b. levied in September 2004, the ITA said. Direct taxes, including those on income, capital gains and real estate, accounted for NIS 7.8b., or 53.4%, of September's revenues, and NIS 66.5b., or 54.1% of revenues, for the first nine months of the year. Indirect taxation, including VAT and duties on imports, purchases, fuel and tobacco, totalled NIS 6.5b., or 44.4% of public revenues, in September, and NIS 53.1b., or 43.2% of revenues, over the first nine months of the year.
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