Tax revenues totaled NIS 16.6 billion in August 2011, 3% more in real terms than in August 2010, the Ministry of Finance announced today. However, tax revenues in January-August were NIS 370 million below target.
Land taxes totaled NIS 699 million in August, 0.9% more than in the August of last year, due to a 14.8% jump in betterment tax revenues, which was partly offset by a 9.1% drop in purchase tax revenues on real estate transactions.
Fuel excise revenues fell 8.8% to NIS 1.13 billion in August from NIS 1.3 billion in August 2010. The Ministry of Finance cut the excise on gasoline in August to prevent a price hike.
Capital market tax revenue totaled NIS 163 million in August, 7.5% more than in August last year.
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