Tax revenue grew by nearly 20% YoY in the first quarter of 2021, the Finance Ministry reports, and totaled EUR 1.77 billion, payable to the Tax and Customs Board (MTA).
The tax take increased for three consecutive months, with growth gradually accelerating largely due to the low baseline in spring 2020 as the coronavirus pandemic arrived.
Vat payments for Q1 exceeded even Q1 2019, prior to the crisis, by EUR 47 million, at EUR 605 million.
At the end of Q1, the total turnover of enterprises rose to 11.2% YoY, despite lengthier restrictions than those of March 2020.
The growth of the wage bill affecting labor contributions was 0.9%.
Payment of social tax increased by 13.3% in March.
In the first quarter, income tax rebates of EUR 186 million were paid, up by EUR 17 million.
The liberalization of the Estonian pension scheme, which came into effect on January 1, meant pension holders cashed out EUR 11 million in total in Q1.
The payment of excise duties increased by 27.9% in the first quarter compared with the previous year, with the payment of fuel excise duty driving the growth. This was caused by the low level of fuel excise duty last year.
Alcohol excise duty take fell, mainly due to restrictions which have prevented alcohol sales.
Beer excise take fell by 13% YoY and strong alcohol excise duty revenue by 17%. In the latter case, a fall in sales of alcohol-based disinfectants had its effect.
Tobacco excise duty conversely rose by 8.5%, mainly due to higher excise duty liable on cigarettes. (ERR/Business World Magazine)