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ECONOMIC BRIEFS

1998 tax revenues 13 billion Sk lower than projected

Tax revenues of the state budget will be 13 billion Sk lower than the projected sum for 1998. The 1998 state budget predicted tax and customs revenues of 166.48 billion Sk, but the Central Customs Directorate (UDR) is already 12.02 billion Sk behind target. UDR Director Julia Marcekova told a press conference on October 22 that she believed this deficit should not widen much by the end of the year, because year-end benefits packages increase tax revenues from incomes while Christmas purchases boost revenues from the value-added and excise taxes.

Customs offices reported a growth of arrears in VAT payments, which lagged 17.2% behind the predicted volume. Since 1991, the UDR has recorded arrears totalling 35 billion Sk. Of this sum, 8 billion Sk will probably never be paid.

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