Financial Administration Reports Record Amount of Tax Collected

Bratislava, 27 November (TASR) - Financial Administration (the tax office) has achieved record results in indicators such as effective tax collection, the number of audits and cross-border fraud, particularly in the area of value-added tax (VAT), TASR learnt from Financial Administration itself on Thursday. The tax office reported the highest amount of tax collected, the most effective audits in history, and a lower burden on honest entrepreneurs. "Financial Administration continues to dynamically and measurably improve its results. The past two years have brought the highest level of tax revenues in Slovakia's history, a significant reduction in the tax gap, and record-breaking effectiveness in carrying out checks," said Financial Administration. The experts have indicated that at the end of October this year, budgeted tax revenues were €1.8 billion higher than last year. VAT accounted for the largest share of this increase, with a rise of €625 million. Financial Administration also stated that the tax gap is decreasing. "It is obvious that as the tax gap decreases, so does the volume of tax evasion, and thus the volume of findings from tax audits. Modern analytical tools make it possible to quickly detect suspect transactions, minimising the scope for large-scale carousel fraud. The volume of such fraud was more than a third lower in 2024 than in 2019," said the experts. am/df