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2005 tax revenues projected to increase

SLOVAKIA's tax revenues for 2005 should reach Sk202 billion (€5.1 billion) or 78.1 percent of the total budget revenues, according to the proposed budget for 2005-2007.

In 2006 the draft budget projects tax revenues of Sk214.7 billion (€5.3 billion) and Sk 231.2 billion (€5.7 billion) in 2007, according to the TASR news agency.

"In 2005, tax revenues will increase 0.25 percent year-on-year. This low rise will result from the fiscal decentralisation due to begin in January 2005, which changes the method of allocating money to public administration bodies," says a statement issued by the Finance Ministry.

Most of the remaining revenues will come from grants and transfers, mainly from the EU, which should amount to Sk39.5 billion (€980 million) in 2005, Sk42.86 billion (€1.06 billion) in 2006 and Sk48.41 billion (€1.2 billion) in 2007.

EU funds will contribute Sk26.51 billion (€660 million) to the budget in 2005, Sk31.36 billion (€790 million) in 2006, and Sk35.9 billion (€890 million) in 2007.

Total non-tax revenues for 2005-2007 are put at between Sk17-17.7 billion (€420 million- €440 million).

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