BRATISLAVA, July 14, (WEBNOVINY) – The state collected less money in taxes during the first six months of this year than it planned. Based on the data provided by the Tax Directorate of the Slovak Republic, tax revenues amounted to 4.113 billion euros as of late June, which is 6.4 percent below the budgeted volume. The raised sum represented 46.8 percent of the twelve-month projections. Non-tax revenues accounted for 122.9 million euros in the observed period.
Revenues from income tax, profit and capital gains tax reached 903.3 million euros, which represented 93.6 percent of the budgeted level. Personal income tax represented 734.1 million euros, taking it to mere 82 percent of the expected sum. Income tax paid by legal entities amounted to 827.4 million euros, translating into 98.9 percent of the budgeted level.
The collection of domestic taxes on goods and services amounted to 3.173 billion euros in the six-month period and was 6 percent below the plan. The collection of added-value tax (VAT) reached 2.223 billion euros and accounted for 95.22 percent of the budgeted amount. The excise tax collection stood at 950.5 million euros and made up 91.2 percent of the projections.
Tax and customs offices are expected to collect 8.787 billion euros this year. The Financial Policy Institute (IFP) at the Finance Ministry increased the projected revenues from taxes and premiums by 3 million euros in its latest prognosis. This year, tax revenues are expected to be 48 million euros lower from the approved budget. Last year, tax revenues reached 7.962 billion euros, down 0.8 percent y/y.
SITA
