BRATISLAVA, July 19, (WEBNOVINY) — Collection of excise taxes in the first half of this year moderately increased from the same period of 2010. At the end of June, the treasury collected over EUR 950.5 million in excise taxes, up 0.7 percent y/y. The Tax Directorate recorded the deepest y/y fall with the collected excise tax on spirits, which shrank 28 percent to EUR 96.97 million. In contrast, excise tax on beer grew 6.6 percent over the first half of this year to EUR 25.941 million. Collection of excise tax on tobacco products grew as well by 5.4 percent to EUR 296.6 million.
In its latest prognosis, the Financial Policy Institute at the Finance Ministry has decreased the overall expected collection of excise taxes this year compared with its forecast in February. It should go down EUR 55 million to EUR 2.055 billion. Lower estimated revenues from excise taxes this year are mainly caused by lower collection of the excise tax on mineral oils (petrol), spirit and natural gas. However this decrease is partly offset by higher expected growth of real consumption of households. The institute reduced the expected collection of the excise tax on spirits by EUR 6 million to EUR 202 million while the expected collection in the case of beer was increased EUR 1 million to EUR 56 million. Excise tax on tobacco and tobacco products should be EUR 14 million higher and achieve EUR 630 million. The excise tax on wine should remain at the originally prognosticated EUR 4 million.
SITA
