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Financial Mirror (Cyprus) - - FRONT PAGE -

Rev­enue from in­come tax de­clined by 4.37% to EUR 0.84 bln from EUR 0.88 bln, year on year, while other in­di­rect taxes for the ten months of 2014 were up 10.15% at EUR 0.9 bln com­pared with 0.8 bln in the same pe­riod last year.

Rev­enue from in­di­rect taxes ac­cel­er­ated by 4.18% in the ten moths of 2014 to EUR 2.01 bln from 1.93 bln in the same pe­riod of 2013, while im­port du­ties in­creased by 41.76% to EUR 28.25 mln from EUR 19.93 mln.

Ex­cise tax rev­enue in­creased by 3.0% reach­ing EUR 522 mln from EUR 506 mln.

Rev­enue from VAT for the ten months of 2014 was up 5.57% at EUR 1.21 bln from 1.15 bln in the same pe­riod of 2013.

Ex­pen­di­ture for the Jan­uary-Oc­to­ber pe­riod de­clined by 9.2% to EUR 5.19 bln com­pared with EUR 5.61 bln in the ten moths of 2013.

Salaries and wages de­clined by 4.51% to EUR 1.32 bln com­pared with EUR 1.39 bln in the same pe­riod of 2013.

The cat­e­gory of other cur­rent trans­fers, which in­cluded so­cial trans­fers, regis­tered a size­able de­crease of 17.63%, drop­ping EUR 1.06 bln from EUR 1.3 bln in the ten months of 2013. In­ter­est pay­ments recorded a de­cline of 17.47% to EUR 405 mln in the ten months of 2014 com­pared with 490 mln in the same pe­riod of 2013, while ex­pen­di­ture for pen­sion and gra­tu­ities de­clined by 16.12% to EUR 458 mln from 547 mln.

Pay­ments for so­cial se­cu­ri­ties in­creased by 3.64% to EUR 1.24 bln from 1.19 bln, whereas ex­pen­di­ture for so­cial pen­sion ac­cel­er­ated by 2.44% to EUR 52 mln from EUR 50.6 mln in the Jan­uary-Oc­to­ber pe­riod of 2013.

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