Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Slovakia Expects to Fetch More Tax Revenue on Reducing Tax Fraud

Don't Miss Out —
Follow us on:

June 24 (Bloomberg) -- Slovakia expects to collect 290 million euros ($395 million) more in tax revenue than previously projected for this year as government measures to reduce tax fraud boosted receipts.

The improvement since the previous forecast released in February represents 0.4 percent of gross domestic product, Finance Minister Peter Kazimir told journalists in Bratislava, Slovakia, today. Receipts in 2015 and 2016 will exceed plan by 190 million euros and 202 million euros, respectively.

The administration of Prime Minister Robert Fico has boosted efforts to fight tax evasion with measures such as a 5,000 euro limit on cash payments or an electronic cross-check of invoices to squeeze the budget deficit below the European Union’s limit of 3 percent of GDP. Improved tax collection raises chances of meeting this year’s fiscal goal for a 2.6 percent shortfall, Kazimir said.

The budget is also benefiting from accelerated economic growth, which has helped boost job creation. The economy is set to grow 2.4 percent this year and 3 percent in 2015, accelerating from 0.9 percent in 2013, according to the revised ministry’s forecast released on June 16.

To contact the reporter on this story: Radoslav Tomek in Bratislava, Slovakia at rtomek@bloomberg.net

To contact the editors responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.