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Slovenian Revised Budget Includes Tax Changes

Thursday, 27 June 2013   (0 Comments)
Posted by: Author: Lorys Charalambous
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Author: Lorys Charalambous

Slovenia has approved a draft revised budget for 2013, following a 6.1 percent decrease in projected revenues for the year based on performance from January to May.

The revised Budget confirms a number of tax amendments. VAT will rise, and increased revenue from road tax and from a new tax on lottery tickets is expected to have a "significant effect" from next year, alongside measures to improve revenue collection. Court fees are also to rise.

The revised Budget confirms the amendment to the Value Added Tax Act to hike the headline rate to 22 percent from 20 percent from July 1, 2013, and the lower rate from 8.5 percent to 9.5 percent. The legislative amendments required to implement the rate changes, published in the Official Gazette (46/2013) on May 29, 2013, provide for transitional rules that stipulate that a taxable person who, before July 1, 2013, received full payment for the supply of goods or services, which will be fully carried out after that date, will be subject to the VAT rates in force prior to July 1, 2013. If only partial payment is made prior to July 1, 2013, the lower rates will apply to the portion that was paid prior to July 1, while the heightened rates will apply to payments made after July 1, 2013.

The revised budget envisages expenditure of EUR9.631bn, representing a EUR10.5 million increase and projecting a new deficit figure of 4.4 percent of GDP, up from 2.8 percent. The extra amount will cover unexpected or additional commitments.

According to the Government, the risk of reduced economic activity is linked to the international situation through trading partners and financial markets. The Government says that stabilizing this decline depends on the success of overhauling the banking sector and on other measures to ease the credit crunch and to increase investment.

The revised budget also represents a decrease in EU funds, including Slovenian participation, of 15 percent, which the Government explains is due to problems that led to a delay in signing contracts with contractors in relation to the EU's Cohesion Policy. The Government suggests that Cohesion Policy funds should be used for "developing the environment and transport infrastructure, strengthening development potential and developing human resources.".



Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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