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Slovakia’s tax revenue falls 12.5 percent less than plan for first half 2012

At the end of June, total tax revenues collected in Slovakia amounted to €4.04 billion, lagging behind the amount planned in the budget by 12.5 percent over the first six months. The tax revenue represents 43.8 percent of the annual budget, the SITA newswire wrote based on a report by Slovakia’s Finance Directorate.

At the end of June, total tax revenues collected in Slovakia amounted to €4.04 billion, lagging behind the amount planned in the budget by 12.5 percent over the first six months. The tax revenue represents 43.8 percent of the annual budget, the SITA newswire wrote based on a report by Slovakia’s Finance Directorate.

Non-tax revenue at the end of June was €127 million. Total revenue collection reached €4.167 billion, representing 88.46 percent of the budgeted revenue. The country collected €1.047 billion in taxes on income, profits and capital gains, representing 92.6 percent of the expected revenue. The state collected €2.966 billion in taxes on goods and services, 86.2 percent of the budgeted amount. Taxes on international trade and transactions brought more than €15 million to the state.

Slovakia collected €2.017 billion in value added tax (VAT) in the first half of 2012, representing 83.7 percent of the planned amount. State budget revenue from excise duties was €949.5 million.

Based on the state budget law for 2012, tax revenue this year should reach €9.228 billion, with overall revenue of €13.6 billion and expenditures of €17.3 billion. The budget deficit is planned at just over €3.6 billion.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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