Germany Government Source: See Leeway For Tax Cuts By 2013

BERLIN (MNI) – The German government expects that new tax revenue
forecasts this week will show that income tax rates can be cut in 2013
without driving up the deficit, a senior government official said
Monday.

The government’s tax estimate commission is scheduled to release
new tax revenue forecasts on Friday.

“We’re confident that there will be additional revenue which will
create the leeway for the tax cuts as planned,” the source explained.

Earlier this month, Finance Minister Wolfgang Schaeuble announced
that the government aimed to cut income taxes by some E6-7 billion
in 2013 “to support the good economic situation.”

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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