Revenues have been higher than first expected because the economic recovery from the COVID-recession was much stronger than expected, meaning higher payroll tax and stamp duty revenues, and because of super-high commodity prices, primarily coal but to a lesser extent oil and gas, associated with ...
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meaning higher payroll tax and stamp duty revenues, and because of super-high commodity prices, primarily coal but to a lesser extent oil and gas, associated with the invasion of Ukraine. Partly, the revenue revisions were associated with the Government’s new royalty regime which imposed addition...