Extra tax revenue from new registers on target after six months
When launching the new system, the government projected EUR 75m in additional annual revenue.
The users of tax-certified cash registers, which are compulsory as of 2 January, reported EUR 649.7m in net VAT payments, which is EUR 36.5m or 5.9% more than in the same period last year. FURS noted that the VAT figure for small hospitality businesses had risen by as much as 21.2%.
When taking into account the 1.5% nominal growth in private consumption projected for this year, the net VAT payments rose by EUR 27m or 4.4% year-on-year. In hospitality, the growth was 19.7%.
"Thus part of the increased VAT revenue can be attributed to the introduction of the tax-certified cash registers," FURS stressed.
The positive effects of the new system can also be demonstrated through the rise in revenue from social security contributions and income tax, although the administration estimates that EUR 10.66m of the additional revenue can also be attributed to stricter monitoring of undeclared work.