Business News

FURS collects ever more taxes, last year nearly EUR 18bn

Ljubljana, 08 January (STA) - Slovenia's Financial Administration (FURS) collected EUR 17.6 billion in taxes in 2019, which is by EUR 954 million or 5.7% more than in 2018, its early figures show.

The trend has been present ever since FURS was set up with the merger of the national tax and customs administrations in 2014. Since then its tax collection rose by 29%.

Last year all public budgets - the national budget as well as the municipal, pension and health budgets - posted rises in revenue, with excise duties being one of few major taxes the collection of which dropped (-1.1%).

Social security contributions collected - which provide for pension, disability and health insurance and are largely paid directly to the public pension and health funds, but some also to the national budget - increased by 7.2% to over EUR 7 billion.

FURS also collected by 9.4% more taxes on income and profit; a significant rise of 5.9% was recorded in personal income tax, while corporate tax collected rose by 17%.

The VAT take increased by 2.8%.

FURS pointed out in a press release that last year's 5.7% rise in taxes it collected was higher than Slovenia's GDP growth, which reached 2.7% in the first three quarters of the year.

The national revenue service also said that more than 95% of all taxes had been paid voluntarily last year.

It noted another positive trend of a falling tax debt ever since FURS was established. Last year, it dropped by 3.1% to some EUR 1.2 billion, and by 18% since 2014.

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