BERLIN (AP) — The German government says a healthy labor market and strong corporate earnings helped its tax take increase by 3.3 percent last year, allowing it to borrow less than planned.
The Finance Ministry said in its monthly report Friday that the government's tax income totaled 570.2 billion euros ($776 billion) in 2013. Proceeds from income tax rose 6.1 percent and while those from corporations climbed 15.2 percent.
In December, the total tax take was 75.2 billion euros, 3.4 percent higher than a year earlier.
Rising tax receipts have helped bolster the government's finances. Last year, it borrowed 22.1 billion euros, 3 billion less than planned. Germany's budget deficit was only 0.1 percent of its annual gross domestic product.
- Budget, Tax & Economy