Spectator on facebook

Spectator on facebook

Tax revenues in 2004 total Sk232.862 billion

DURING the first year of tax reform (2004), Slovakia's tax revenues totalled Sk232.862 billion (€6.14 billion), according to preliminary results from the Finance Ministry, according to the TASR news agency.

The amount, which fulfilled expectations, represents 17.6 percent of Gross Domestic Product (GDP).

Finance Minister Ivan Mikloš says the final results will not be known until after tax returns are assessed, but they should not differ greatly. He added that 2004’s estimates were reasonably accurate and show that the reform is working well.

Were it not for the reform, the receipts would have totalled 18 percent of GDP.

Personal income tax, which represented 3.3 percent of GDP in 2003, dropped to almost Sk34 billion (€896 million) in 2004, or 2.5 percent of GDP. This exceeds the 2004 estimate of 2.1 percent.

Preliminary estimates put 2004's corporate tax revenues at Sk29.6 billion (€780 million), or 2.2 percent of GDP - higher than the projected 1.8 percent.

In 2003 corporate tax was 2.8 percent of GDP. Were it not for the reform, corporate tax would have represented 3 percent of GDP.


Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

Top stories

LGBTI people in the regions: We change people’s minds

Bratislava will dress up in rainbow colours this August again, for the seventh time. This will be for the Bratislava Dúhový Pride diversity festival. But the colours of the rainbow are less bright in the regions,…

Slovakia’s LGBTI community seeks to expand their rights.

Things that make us different also make us stronger

On August 19, a rainbow flag will fly over the US Embassy in Bratislava to represent the firm commitment of the United States to defending the human rights of LGBTI people, writes Ambassador Sterling.

The rainbow flag flew over the US Embassy in Bratislava in 2016.

Blog: 5 things you should do on your visit to the north of Slovakia Photo

Here is a list of tips by an experienced tour guide - including things you have probably not tried before.

Bratislava growing high Photo

High-rise buildings sprouting up in Bratislava

Visualisation of the future skyline of Bratislava