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Tax collection in first of 2010 was 15 percent under target

TAX collection in the first half of 2010 was almost 15 percent below projections. As of late June, tax revenues amounted to €3.685 billion, which was 85.49 percent of the budgeted volume. On the other hand, non-tax revenues reported better-than-expected figures. Collection of these, at €128.9 million, exceeded the budgeted sum by 2.86 percent, the SITA newswire reported, citing the Tax Directorate of the Slovak Republic.

TAX collection in the first half of 2010 was almost 15 percent below projections. As of late June, tax revenues amounted to €3.685 billion, which was 85.49 percent of the budgeted volume. On the other hand, non-tax revenues reported better-than-expected figures. Collection of these, at €128.9 million, exceeded the budgeted sum by 2.86 percent, the SITA newswire reported, citing the Tax Directorate of the Slovak Republic.

Revenue collection from income tax, profit tax and capital gains tax reached €623.5 million, which was 60.2 percent of the budgeted level. Meanwhile, domestic taxes on goods and services of €3.046 billion represented 93.48 percent of the budgeted level. Collection of excise taxes, at €943.9 million, was 94.68 percent of the target. Of non-tax revenues, the state collected €74.1 million in administrative fees (96 percent of the budgeted level) and €54.6 million in revenues from lotteries and similar games, which was 13.45 percent above projections.

Tax and customs offices are budgeted to collect €8.871 billion this year. According to the budget, tax revenue collection should amount to €8.620 billion and non-tax revenue collection to more than €250 million. However, the Finance Ministry has already announced that tax revenues will be significantly lower than projected. Overall revenues from taxes and social and health insurance contributions will be under-budget by more than €1 billion, according to the latest prognosis released by the ministry.

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