BERLIN May 11 Germany has raised its overall
tax revenue estimates for this year by 7.9 billion euros,
Finance Minster Wolfgang Schaeuble said on Thursday and promised
to cut taxes thanks to an economic upswing and record-high
"The federal government has delivered on its fiscal
promises. First we balanced the federal budget, then we made
additional funds for investments available," Schaeuble said.
"Now tax cuts can follow in the next legislative period,"
said Schaeuble, a senior member of Chancellor Angela Merkel's
conservatives, less than five months before a federal election.
He reiterated he saw scope to lower taxes by 0.5 percent of
Germany's gross domestic product, which would come to roughly 15
The finance ministry's panel of tax experts put this year's
total tax take - including Germany's federal, state, municipal
and EU revenues - at 732.4 billion euros, up from the last
estimate of 724.5 billion euros in November.
For the longer 2017-21 period, the German state is projected
to have a higher tax take of 54.1 billion euros compared to the
(Reporting by Michael Nienaber and Joseph Nasr; Editing by