TAX NEWS - June 2010

Germany Tax: German Tax Income Rises as Euro Aids Exports, Handelsblatt Says

Germany's tax revenue in May rose by 1.6 percent, the second consecutive increase after falling for 14 straight months, as the weaker euro helped Germany sell more goods abroad, Handelsblatt said, citing people from Germany's finance ministry it did not identify.

As tax revenue has been higher than budgeted for, Germany will have to increase borrowing by only 65 billion euros ($79 billion) this year, compared to the current planning of 80.2 billion euros, the newspaper said.