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Slovakia's nine-month revenues lower than projected

TAX and customs offices in the Slovak Republic collected Sk7.085 billion (€235.2 million) less than had been projected for the January to September period this year. The total collected for the state budget was Sk201.365 billion (€6.684 billion), the SITA newswire reported on October 13.

TAX and customs offices in the Slovak Republic collected Sk7.085 billion (€235.2 million) less than had been projected for the January to September period this year. The total collected for the state budget was Sk201.365 billion (€6.684 billion), the SITA newswire reported on October 13.

Tax revenues made up Sk194.879 billion (€6.469 billion) of the total sum, Sk8.351 billion (€277.2 million) less than had been projected. Non-tax revenues amounted to Sk6.486 billion (€215.3 million).

Local tax collection on goods and services, representing Sk139.663 billion (€4.636 billion) as of September 30, was the prevailing item in tax revenues. Value-added tax (VAT) collection was Sk97.576 billion (€3.239 billion). Excise tax collection was Sk42.087 billion (€1.397 million), which was Sk3.491 billion (€115.9 million) less than projected, the Central Tax Administration announced.
Revenue from income tax, tax on profit, and capital gains tax reached Sk54.341 billion (€1.804 billion) as of September 30, 2008, which was 7.8 percent more than had been projected. Corporate income tax amounted to Sk49.601 billion (€1.646 billion) of the total; personal income tax paid by private individuals amounted to Sk39.077 billion (€1.297 billion).

The state budget transferred Sk38.978 billion (€1.294 billion) to the budgets of counties, towns and villages as part of the process of fiscal decentralisation. Collection of withholding tax reached Sk4.641 billion (€154.1 million) by the end of September.

In 2008, tax and customs offices should collect Sk277.933 billion (€9.226 billion) according to the approved state budget. Tax revenues are projected to be Sk270.973 billion (€8.995 billion), and non-tax revenues to make up the remaining Sk6.96 billion (€231 million).

In 2007, collected tax revenues were Sk265.588 billion (€8.816 billion) and exceeded the annual projection by 4.42 percent. Tax revenues were higher by 4.15 percent or Sk10.291 billion (€341.6 million) and reached Sk258.296 billion (€8.574 billion). Non-tax revenues exceeded the annual plan by 15.2 percent or Sk961.9 million (€31.9 million) and reached Sk7.292 billion (€242.1 million) by the end of the year.

Topic: Finances and Advisory


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