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THE IMPACT OF SELECTED FACTORS ON VAT REVENUE DEVELOPMENT IN SLOVAKIA1
Abstract
The development of VAT revenue in the Slovak Republic depends on its macroeconomic base, which is mainly affected by the final consumption of households. In the Slovak Republic, the final consumption of households accounts for more than a half of GDP. Since 1993, VAT revenue has been increasing on a year-to-year basis from 911 million euros to 5.5 billion euros in 2015, except 2009 when there was a sharp decline due to the crisis. In this period, the VAT share in total tax revenue of the state budget increased from 30 % to almost 52 % in 2015. The aim of the paper is to outline the VAT revenue development in the Slovak Republic and identify statistically significant variables that have an impact on VAT revenue and assess the extent to which this yield is affected using a simple regression analysis. The factors that directly affect the development of value added tax revenue involve the final consumption of households and effective VAT rate. At the same time, we examined the relationship between the development of VAT revenue and the development of basic macroeconomic variables.
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