Hoppa yfir valmynd
Ministry of Finance and Economic Affairs

Treasury finances January 2009

Cash Flow Statement in January 2005–2009

Millions of krónur
2005 2006 2007 2008 2009
Revenue
29 894
41 132
51 972
56 587
55 117
Expenditure
25 338
25 508
28 339
31 597
38 916
Current
balance
4 556
15 624
23 633
24 990
16 201
Receipts from
sale of fixed assets.
-
-
-
-
Other cash
payments / receipts
-1 901
-1 698
-115
420
-204
Cash flows
from opera-
tions
2 655
13 926
23 518
25 410
15 997
Financial
transactions
3 219
-1 077
-30 342
-1 051
3
Net financial
balance
5 874
12 849
-6 824
24 359
16 000
Debt re-
demption
-11 135
-4 049
-60
-576
-662
Domestic
-2 142
-4 049
-60
-576
-662
Foreign
-8 994
-
-
-
-
Pension fund prepayments
-
-330
-330
-330
0
Gross borrow-
ing requirement
-5 261
8 470
-7 214
23 453
15 338
New borrowing
5 563
1 532
31 861
-3 550
11 401
Domestic
-3 431
1 532
31 861
-3 550
11 636
Foreign
8 994
-
-
-
-235
Overall cash
balance
302
10 002
24 647
19 903
26 739


 Treasury revenue in January 2007–2009

Millions of krónur
Change from previous year (%)
2007
2008
2009
2007
2008
2009
Total taxes and social security contributions
49 532
54 425
53 825
26.9
9.9
-1.1
Taxes on income and profit
29 976
31 702
35 944
17.8
5.8
13.4
Personal income tax
8 714
7 884
8 661
12.2
-9.5
9.8
Corporate income tax
1 232
333
549
-70.3
-72.9
64.6
Other taxes on income and profit
20 030
23 484
26 735
48.0
17.2
13.8
Taxes on property
594
831
394
-26.8
40.0
-52.6
Taxes on goods and services
14 560
17 260
12 966
56.2
18.5
-24.9
Value added tax
10 560
12 532
9 554
96.6
18.7
-23.8
Excise tax
on motor vehicles
441
864
54
-39.7
95.8
-93.7
Excise tax
on petrol
814
777
789
-2.5
-4.5
1.6
Excise on oil
516
555
448
14.4
7.5
-19.3
Tobacco and liquor taxes
865
894
939
4.3
3.3
5.1
Other taxes on goods and services
1 364
1 639
1 181
23.2
20.2
-27.9
Taxes on international trade and transactions
748
854
909
153.8
14.0
6.5
Other taxes
56
152
196
-1.3
170.0
28.8
Social security contributions
3 598
3 626
3 415
15.7
0.8
-5.8
Grants
35
9
10
-8.0
-75.5
14.1
Other revenue
2 219
2 715
1 282
8.9
22.4
-52.8
Sale of assets
-
39
0
-
-
1.0
Total revenue
51 786
57 188
55 117
25.9
10.4
-3.6

 Treasury expenditure in January 2007–2009

Millions of krónur
Change from previous year, %
2007
2008
2009
2008
2009
General public services
3 332
3 795
5 126
13.9
35.1
of which: interest
639
1 080
2 113
69.1
95.6
Defence
33
85
84
156.8
-0.3
Law enforcement, justice, security
1 173
1 343
1 299
14.5
-3.3
Economic affairs
3 564
3 559
3 226
-0.1
-9.4
Environmental protection
271
212
226
-21.9
6.5
Housing, zoning and utilities
32
43
14
35.2
-68.4
Health
7 084
7 810
8 933
10.3
14.4
Culture, sports and religion
1 739
1 750
1 726
0.6
-1.3
Education
4 887
6 089
7 046
24.6
15.7
Social security and welfare
5 694
5 946
10 575
4.4
77.9
Irregular expenditure
530
584
660
10.2
13.0
Total expenditure
28 339
31 216
38 916
10.2
24.7


Note:

Revised revenue classification of the Treasury in January 2006: The classification of Treasury revenue has been revised according to the IMF Government Finance Statistics Manual of 2001. The earlier classification was based on an earlier version of the Manual. The new classification was first published last autumn in the 2004 Treasury accounts and introduced in the 2006 fiscal budget. It is now applied in the monthly revenue statements of the Treasury.

The main changes from the previous classification is that social contributions are separated from tax revenue and classified under a new main heading "Taxes and social contributions". Taxes on international trade and transactions, such as customs duties and other import charges, are now shown separately and are no longer under the heading "Taxes on goods and services". Regarding the other revenue, the new classification provides more details than the earlier version. The new classification also calls for a revision of several other items, such as the tax for the Elderly's Construction Fund and several user and licence charges.

 



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