IN SHORT

2005 "extremely successful", says Tax Bureau

THE YEAR 2005 was one of the most successful in the history of tax collection in contemporary Slovakia, according to Mária Machová, the director of the Slovak Tax Bureau.

Tax and customs offices collected a total Sk222.6 billion (€5.95 billion), or Sk20.6 billion (€551 million) more than predicted. Another Sk40 billion (€1 billion) raised in personal income tax and motor vehicle tax went to the country's regional governments, the SITA news agency wrote.

Machová said that the value-added tax (VAT) collected by tax offices exceeded VAT refunds by Sk80.6 billion (€2.16 billion) last year.

The Finance Ministry said that the success of tax collection proves its theory that in dropping the tax rate to a flat 19 percent in 2004, it was actually motivating people to pay tax and declare income they had previously hidden.

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