The pandemic has reduced last year’s tax and payroll levy revenues by just €42m

The pandemic has reduced last year’s tax and payroll levy revenues by just €42m, way below the initial estimate of €2bn, reads the Finance Ministry’s tax forecast update. This year, tax revenues are growing at the same pace as before the pandemic, by 5% annually. Strong EU fund spending should lead to a 7% increase in tax revenues next year. Another driver of the growth is strong VAT intake and a resilient labor market.

(sme.sk)