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Tax arrears up at Kc103.8bn at end-Oct.
(From Czech News Agency)
PRAGUE, Dec 1 (CTK) - Accumulated tax arrears grew to Kc103.8bn at the end of October, up by Kc4.2bn from end-October last year, the Finance Ministry has reported.
Corporate income tax accounted for the greatest part of the arrears. The share of the increase in tax arrears on tax revenues will this year rise to 1.06 pct from 0.9 pct last year, according to the FinMin estimate. The reason for the continued increase in tax arrears are the August huge floods which hit many companies, the ministry has reported.
Over a third of the tax arrears come from value added tax and the other third from income tax. Since 1993, when a new tax system came in force, the ratio of the increase of tax arrears on tax revenues was the highest in 1996 when it came up to 4.6 pct.
The FinMin claims the arrears are difficult to be be ...
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