Slovakia reports increased tax revenues following intensified inspections

The Slovak Financial Administration reported a significant increase in recorded revenues following intensified inspections. Between January and August, authorities conducted over 18,000 field inspections, a 38% increase compared to the previous year. These efforts resulted in over 3,500 violations and fines totaling nearly 3 million euros.

Data indicates that businesses inspected for non-compliance saw their reported revenues rise by more than 17% in the 15 days following an inspection. High-risk sectors saw the largest gains, including restaurants, which saw revenue increases of over 83 million euros, followed by hair salons and dental clinics.

Separately, the National Council of the Slovak Republic approved the state's final accounts for the previous year. The state managed a deficit of 6.086 billion euros, or 4.45% of GDP, which was a better outcome than the initially projected 4.72% deficit. Additionally, the parliament moved forward with a legislative amendment to reduce administrative burdens for companies regarding sustainability reporting requirements.