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Tax revenues lag behind plan

SLOVAKIA collected less revenue from various kinds of taxes during the first seven months of the year than it had planned. But the gap between planned and actual tax revenues has been narrowed. While actual tax revenue was more than 12 percent less than planned in May, that narrowed to 6.4 percent in June and in July Slovakia collected tax revenue that was only 3.98 percent below the planned amount. Total tax revenue flowing to the state over the first seven months of 2011 amounted to €4.9 billion, the SITA newswire reported.

SLOVAKIA collected less revenue from various kinds of taxes during the first seven months of the year than it had planned. But the gap between planned and actual tax revenues has been narrowed. While actual tax revenue was more than 12 percent less than planned in May, that narrowed to 6.4 percent in June and in July Slovakia collected tax revenue that was only 3.98 percent below the planned amount. Total tax revenue flowing to the state over the first seven months of 2011 amounted to €4.9 billion, the SITA newswire reported.

Taxes collected on the incomes of individuals reached €886.1 million, only 85 percent of the planned amount through July. The state collected €968.7 million in income taxes from corporations, reaching 99.3 percent of the projected amount through July.

Collection of various kinds of taxes on goods and services in the first seven months totalled €3.808 billion, 3.3 percent below the plan, with about two-thirds, €2.682 billion, coming from value added tax and hitting 98.51 percent of the planned amount. Excise tax revenue came to €1.126 billion or 92.56 percent of the planned amount.

Slovakia’s tax and customs offices are expected to collect state revenue totalling €8.787 billion in 2011. Last year the state collected €7.962 billion, 0.8 percent less than in 2009.


Topic: Finances and Advisory


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