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Finmin satisfied with budgetary revenue in second quarter of 2005

ZAGREB, June 15 (Hina) - The budgetary revenue in the second quarter of2005 has improved considerably in comparison to the revenue in thefirst three months this year, and the growth rate of budgetary revenuein the second quarter is 8.6 percent, Croatian Finance Minister IvanSuker said on Wednesday.
ZAGREB, June 15 (Hina) - The budgetary revenue in the second quarter of 2005 has improved considerably in comparison to the revenue in the first three months this year, and the growth rate of budgetary revenue in the second quarter is 8.6 percent, Croatian Finance Minister Ivan Suker said on Wednesday.

He told reporters that all budgetary payments were being made on a regular basis.

The minister added that the growth rate of budgetary revenue in the first six months of this year was 6.5 percent in comparison to the first six months in 2004.

The highest rise, of 11.3 percent, was registered in tax revenue.

Revenue from Value Added Tax in the second quarter of 2005 increased by 9.4 percent, revenue from profit tax climbed by 37.1 percent, and revenue from excise duties rose by 4.5 percent in comparison to the second quarter of 2004.

According to Suker, the collection of contributions has been rising at the annual rate of six percent.

All these trends in the second quarter reflect a boom in economic activities and better control of tax collection, he said.

Suker dismissed reports on a growing insolvency, stating that illiquidity was lower than at the end of 2003, when there were 21,829 insolvent companies with a debt of 12.8 billion kuna. The end of this May saw 19,800 insolvent companies with their debt coming to 10.6 billion kuna.

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