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Tax revenues are lower than planned

SIX-MONTHS of tax revenues flowing into the state budget lagged behind projections by 25 percent. The Slovak government’s tax revenues collected between January and June this year amounted to €3.7 billion, only 75 percent of the planned revenue. The Slovak Tax Directorate reported on September 21 that there was €1.242 billion less in the state’s coffers than had been projected in the budget, the SITA newswire wrote.

SIX-MONTHS of tax revenues flowing into the state budget lagged behind projections by 25 percent. The Slovak government’s tax revenues collected between January and June this year amounted to €3.7 billion, only 75 percent of the planned revenue. The Slovak Tax Directorate reported on September 21 that there was €1.242 billion less in the state’s coffers than had been projected in the budget, the SITA newswire wrote.

A lower than projected collection of value added taxes (VAT) had the strongest negative impact on state revenues. Aggregate VAT amounted to only €1.5 billion which was 60.6 percent of the projected level. Revenues from VAT were €590.5 million lower than in the same period a year ago.


Topic: Finances and Advisory


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