The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Tax revenues to exceed plan by 4.3% in 2006.

Tax revenues to exceed plan by 4.3% in 2006. The budget should collect SKK 9.3bn in extra revenues this year, which would represent 4.3% above the target for the year, the finance ministry estimated. The highest contribution for the strong collection was expected from the corporate tax revenues, which should provide SKK 6bn more than the plan due to the robust economic growth, reflected in a more than proportional increase in the corporate profits. The improvement of the financial situation of the companies was also shown in a strong real wage growth, inducing high private consumption growth and correspondingly, high revenues from VAT. The latter should come above the target by some SKK 4bn and compensate a SKK 2.6bn shortfall from excise tax revenues. The collection of excises was negatively influenced by stock accumulation last year, preceding the hike of the excise tax rate on tobacco. It favourably affected the revenue collection in 2005 but had a mirror effect for the execution in this year. The positive revenue performance should help the budget contain its deficit to 3.7% of GDP for 2006 or below the originally planned 4.2% of GDP deficit for the year, including the costs of the pension reform.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree