Tax revenue up 5.4 pct last year, MoF says

05-01-2020

Total tax revenues excluding social security insurance rose by 5.4 percent last year to 1.075 trillion crowns, the Ministry of Finance said. Collected revenue was about 12 billion crowns lower than planned.

The Ministry of Finance anticipates even higher revenues in 2020. In part, this stems from 10 percent higher taxes on alcohol, tobacco and gambling, which should increase state revenues by about 10 billion crowns.

The aim is to keep the budget deficit at 40 billion crowns or 0.7 percent of economic output.