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IN SHORTS

State loses billions in tax fraud

PRODUCERS and retailers of tobacco products estimate tobacco excise tax evasions reach between Sk4 billion (€100 million) and Sk7 billion (€175 million) annually, while spirit excise tax evasion is estimated at hundreds of millions of crowns, the private news agency SITA wrote.

According to an analysis prepared by the Finance Ministry, the problem with tobacco and tobacco products lies mainly in smuggling from Slovakia's eastern neighbour Ukraine, where the tax on such products and their final price is significantly lower than in Slovakia.

The increased risk of spirit excise tax evasion results from the fact that spirits and alcoholic beverages can be easily produced from commonly available commodities. Producers estimate that as much as 30 percent of the spirits sold in Slovakia come from illegal sources.

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