VAT receipts for May slump, but annual projections are on course

During the first four months of the year, budget revenues from VAT were growing to reach a record high of zł.6.5 billion in April, but a month later the figure dropped by 38.5% to a mere zł.4 billion. "The reason is a slump in trade after the boom, which occurred before EU accession. Economic growth will cause VAT revenues to grow and the projections will be met," said Małgorzata Markiewicz from CASE. According to lawyers, another reason for the May slump is the amended VAT bill, which worsens the situation of taxpayers. "It is unclear and it does not conform with EU regulations in many areas. Moreover it has gaps allowing tax avoidance, which could also cause budget revenues to fall," said Jarosław Chałas from law firm Chałas i Wspólnicy. (Puls Biznesu, pp. 1, 6) M.M.