Cyprus Mail
Business Cyprus

Income tax revenue down for Jan-Feb 2014

Income tax revenue dropped 8.0 per cent or 27.3 million year-on-year for January and February, it was announced on Friday.

According to data released by the Inland Revenue Department (IRD), the total income for the above period was €305.3 million compared with €332.6 million in January and February 2013.

The data shows a drop of €7.01 million or 26 per cent in the tax revenue from civil servants, a drop of €8.09 million or 15 per cent from corporate tax, and a reduction of €8.22 million or 5.0 per cent from the special contribution to the defence fund.

IRD data shows that the private sector income tax marked a decrease of 9.0 per cent while the self-employed income tax also recorded a decrease of 29 per cent.

capital gains tax fell 38 per cent to €3.1 million compared with €4.9 million the same period last year.

 

Related posts

Anastasiades to visit Thessaloniki

More than 1,000 traffic fines within 48 hours

Evie Andreou

Suspected people smuggler arrested after migrant arrival

Evie Andreou

China to pilot property tax reforms

Xinhua News Agency

South Korea’s real-life debt trap

Reuters News Service

China’s fiscal revenue up 16.3 per cent in first nine months

Xinhua News Agency

1 comment

Comments are closed.