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Tax Changes to Bring In Additional €600 Million to State Budget
Tuesday 07 September 2010 Zoom in | Print page
Bratislava, September 7 (TASR) - Planned tax changes and non-tax incomes are estimated to bring an additional €598 million into the state coffers next year, amounting to 0.9 percent of GDP, reports the Finance Ministry on Tuesday.
The ministry representatives added that the impact of the prepared changes to the deduction system is still being calculated and is due to be published in the near future.
The lion's share (€185.5 million) of the additional revenues is said to be from two sources - namely, the hike of VAT from 19 to 20 percent and scrapping of the reduced 6-percent VAT on agriculture products of the yard sales, which will now have the unified 20-percent rate. The reduced rates for textbooks and medicines has not been changed.
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