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Tax receipts collapse
22-07-2020 | STATEC

The economic crisis triggered by the COVID-19 pandemic and the measures taken by the Luxembourg government in response to the crisis have inflated State spending at a time when receipts are decreasing. In Q2 2020, tax receipts fell 25% over one year. By the end of the first half of 2020, the State had collected EUR 1.1 billion less tax than last year, a slump of 12.5%. After a slightly negative balance sheet in Q1 (-1.8% over one year), receipts in Q2 fared even worse (-25%).