Coronavirus crisis will reduce tax incomes

The incomes are projected to drop by nearly €3.1 billion this year, according to the recent IFP prognosis.

Illustrative stock photoIllustrative stock photo (Source: SME)

The coronavirus pandemic will have a negative impact on the collection of taxes and payroll levies.

While in 2019, the income from taxes and payroll levies rose by 5.7 percent, this year they are expected to drop by 6.9 percent, the main reason being the drop in Slovakia’s economy.

This stems from the recent prognosis of the Institute for Financial Policy (IFP), running under the Finance Ministry.

Related articleGovernment wants to make Slovakia a tiger again Read more 

“The drop in income will also be deepened by the economic measures to mitigate the impacts of the coronavirus on the Slovak economy,” the prognosis reads.

Incomes should be revived in 2021, together with restored economic activity growth.

Corporate taxes and VAT to drop the most

Compared with the February prognosis, i.e. before the coronavirus outbreak in Slovakia, incomes are projected to drop by nearly €3.1 billion this year.

The rest of this article is premium content at
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on and

Top stories

“My Sunny Maad”, a Czech-French-Slovak animated drama about a Czech woman married to an Afghan who decide to live in post-Taliban Afghanistan, is now screened in Slovak cinemas.

Weekend: German adventurer is walking to Iran, with his stubborn donkey

Jazz music is taking over Bratislava this weekend.

22. okt
Opening of the time capsule of Michael's Tower.

Time capsule stored in Bratislava's St Michael statue 176 years ago reveals its secrets

The public can see the items found in the box in the Bratislava City Museum at the Old Town Hall this weekend.

24 h
About 100 to 110 Tatra chamois live in the NAPANT national park, central Slovakia, but only two are white.

New Low Tatras attraction fascinates and worries hikers

Two white chamois have been observed in the national park, but their colour exposes them to danger.

21. okt

News digest: Slovakia marks anniversary of one of its biggest accidents in water transport

People are obliged to show Covid passes, the Bratislava's Old Town promotes its most beautiful trees and construction of the traditional ice house in the High Tatras has started.

21 h
Skryť Close ad