In 7 months, treasury collected 8.6 percent less in taxes than planned

The overall tax revenue of the state budget at the end of July reached €4.918 billion, lagging behind the level approved in the budget by 8.6percent over the first seven months. The collected amount represented 53.3 percent of the annual projection, according to the Slovak Finance Directorate.

The overall tax revenue of the state budget at the end of July reached €4.918 billion, lagging behind the level approved in the budget by 8.6
percent over the first seven months. The collected amount represented 53.3 percent of the annual projection, according to the Slovak Finance Directorate.

At the end of July, the non-tax revenue of the budget was €145.3 million. Total revenue collection thus reached €5.063 billion, representing 94 percent of the aliquot part of the budgeted revenue, the SITA newswire quoted the Finance Directorate. The treasury collected €1.308 billion in taxes on income, profits and capital gains, representing 99.2 percent of the expected revenue. In local taxes on goods and services the state budget collected €3.58 billion and met the plan to 89.2 percent. Taxes on international trade and transactions brought more than €17.5 million to the budget.

Among the local taxes on goods and services collected, the treasury collected €2.457 billion in Value Added Tax (VAT) in seven months of 2012, representing 87.44 percent of the expected amount. State budget revenue from excise duties was €1.123 billion after 7 months. Based on the state budget law for 2012, tax revenue this year should be €9.228 billion. Overall revenue of the state budget should be €13.6 billion and expenditures €17.3 billion. The state budget deficit could thus be a
little more than €3.6 billion.

(Source: SITA)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.

Fico admits to ties with Bödör

Former prime minister stands by his praise for the state secretary who confessed to corruption and court interference.

Robert Fico during his November 26 press conference.