Finance Ministry reports 5.7 percent drop in tax revenues in 2020

The state's overall tax revenues, excluding social security premiums, fell by 5.7 percent year-on-year in 2020, dropping by 61 billion, to 1.015 trillion crowns.

The state received 426.5 billion crowns in value added tax, a year-on-year decrease of five billion crowns and collected 22.4 billion less in corporate income tax, a total of 160.6 billion crowns, according to data released by the Ministry of Finance.

The drop in revenues is ascribed to the coronavirus pandemic and related restrictions. At the end of March 2020, the state's tax revenues still showed a growth year-on-year.