Slovak tax amnesty yields less than half of expected revenue

Slovakia's tax amnesty program, launched in January, is falling significantly short of its revenue targets. The initiative, part of a broader fiscal consolidation package, aimed to encourage taxpayers to settle outstanding debts by offering forgiveness on penalties. However, with the amnesty set to end on June 30, the state has collected only approximately 33 million euros, far below the projected 81 million euros.

Finance Minister Ladislav Kamenický had anticipated the program would help recover over twice the current amount. The largest revenue shortfalls have consistently been recorded in value-added tax (VAT). The amnesty specifically targets old debts that the state has struggled to collect.

More than 15,000 taxpayers have applied for the amnesty, voluntarily settling their dues. The Ministry of Finance has not yet responded to inquiries about whether they consider the amnesty a successful tool despite the shortfall. The program's limited success raises questions about its effectiveness in improving tax collection and closing the state's budget gap.