Slovenia makes headway in anti-tax evasion

December 8, 2014 5:53 am 

LJUBLJANA, Dec. 8 — Slovenia is tightening monitoring of taxation, and has avoided at least 100 million euros (123 million U.S. dollars) loss of value-added-tax (VAT), Slovenian Press Agency reported on Sunday.

Thanks to increased oversight and the mandatory use of cash register software, the government's receipts from VAT increased by 327 million euros between August 2013 and August 2014.

Of the increased incomes, 100 million euros could be attributed to strict regulations on cash transactions, the Financial Administration was quoted as reporting.

In their 2,629 checks into cash transactions since July 2013, tax inspectors have detect flaws in 4.4 percent of the audits, compared to 50 percent before the government step up efforts to fight tax evasion in July 2013.

Based on its success in monitoring of taxation, the Slovenian government is due to take new measures in January 2015 to increase transparency in cash transactions, thus reducing further the opportunity of tax evasion. (1 euro = 1.23 U.S. dollars). (PNA/Xinhua)

FPV/JSD

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