TAX REVENUE in Slovakia remained more than 11 percent below projections as of the end of August this year, the SITA newswire reported.
By August 31, the state’s tax revenues this year had reached €5.099 billion, 88.73 percent of the budgeted volume.
Non-tax revenues actually exceeded the projected sum by 8.8 percent, reaching €181.8 million, according to the Tax Directorate of the Slovak Republic.
Revenue from income tax, profit and capital gains tax reached €912.3 million, which represented 66.04 percent of the amount budgeted.
Domestic taxes on goods and services were closer to target, at €4.165 billion, representing 95.87 percent of the budgeted amount. Collection of value added tax amounted to €2.888 billion, representing 95.77 percent of the budgeted amount.
Collection of excise taxes totalled €1.278 billion, 96.1 percent of the budgeted level.
In terms of non-tax revenues, the state collected €100.9 million in administrative fees, which represented 98 percent of the budgeted level. Revenues from lotteries and similar games reached €80.7 million, which was 25.77 percent above the projection.
Tax and customs offices are projected 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. The Finance Ministry however already expects tax revenues to be significantly lower than projections, and overall revenues – specifically from taxes and social and health insurance contributions – to be more than €1 billion lower than the planned amount.
20. Sep 2010 at 0:00 | Compiled by Spectator staff