BRATISLAVA, February 21, (WEBNOVINY) — General government revenues from collected taxes and payroll levies this year and next year should be higher than the Finance Ministry had predicted in September of last year. According to an updated tax prognosis of the Finance Ministry’s Financial Policy Institute (IFP), the public administration should collect by EUR 9.142 million more this year and by EUR 36.498 million more next year compared with the September prediction.
Tax revenues should by higher by EUR 63.113 million this year and payroll levies lower by EUR 53.971 million. Next year, the tax revenues should be higher by EUR 102.967 million and payroll levies lower by EUR 66.469 million. In 2013, tax and payroll levy revenues have been revised downwards by EUR 85.205 million on the account of a EUR 81.146-million reduction of revenues from health insurance and social insurance contributions.
Behind the revised figures is in particular an increase in the estimate of corporate income tax revenue and the introduction of a tax on proceeds from the sale of emission allowances, which exceeds the expected downfall in the revenue from value added tax and levies. In 2013, the impact of a worsened macroeconomic development prevails, with negative influence mainly on indirect taxes and levies, while the tax on proceeds from sale of emission allowances is not included. The institute comments that the updated prognosis of tax revenues does not considerably change previous estimates.
Overall tax revenues are projected at EUR 11.256 billion this year and at EUR 11.831 billion next year in the approved public administration budget. Based on the latest prognosis, they should reach EUR 11.270 billion in 2011 and EUR 11.897 billion in 2012. Payroll levies are budgeted at EUR 8.412 billion this year and EUR 8.954 billion next year. Based on the updated figures, they should reach EUR 8.365 billion this year and EUR 8.898 billion next year.
SITA
