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VAT collection better than expected

THE COLLECTION of value added tax in September and October exceeded the government’s expectations. It is €130 million, or one fifth, higher than what was projected, the Sme daily reported, adding that the government does not yet know whether the higher amount is due to increased spending by households in shops or a drop in occurrences of tax fraud.

THE COLLECTION of value added tax in September and October exceeded the government’s expectations. It is €130 million, or one fifth, higher than what was projected, the Sme daily reported, adding that the government does not yet know whether the higher amount is due to increased spending by households in shops or a drop in occurrences of tax fraud.

Economists believe that if government measures are behind the improved result, then credit should go to the national receipt lottery.

“The shopkeepers might have gotten scared and they started functioning the way they should normally be functioning,” tax advisor Roman Konrad told Sme, adding that at the moment, however, it is not clear whether this change is only temporary.

Source: Sme

Compiled by Michaela Terenzani from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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