Slovakia collected less in taxes during the first six months of the year than it planned, the SITA newswire wrote on July 1 based on the data from the Slovak Tax Directorate which reported tax revenues at €4.113 billion at the end of June, 6.4 percent below budget. The amount was 46.8 percent of the twelve-month projection.
Non-tax revenues accounted for €122.9 million in this period. Revenues from income tax and taxes on profits and capital gains reached €903.3 million, 93.6 percent of the budget. Personal income taxes brought €734.1 million, only 82 percent of the budgeted sum. Income tax paid by legal entities came to €827.4 million, 98.9 percent of the budgeted level.
Collection of domestic taxes on goods and services amounted to €3.173 billion in the six-month period and was 6 percent below the plan. Value added tax (VAT) reached €2.223 billion and accounted for 95.22 percent of the budgeted amount. Excise tax collection stood at €950.5 million and came to 91.2 percent of the projection.
Tax and customs offices are expected to collect €8.787 billion this year. The Financial Policy Institute (IFP) of the Finance Ministry increased the projected revenues from taxes and premiums by €3 million in its latest prognosis. This year tax revenues are expected to be €48 million lower than the approved budget. Last year, tax revenues reached €7.962 billion, down 0.8 percent year-on-year.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
14. Jul 2011 at 14:00