Business News

Tax and Welfare Share in GDP Up to 38% in 2009

Ljubljana, 17 September (STA) - The share of taxes and welfare contributions in Slovenia's GDP last year stood at 38%, which is 0.4 percentage points more than in 2008 and level compared to 2007, the Statistics Office said on Friday.

The share of fiscal burden decreased between 2005 and 2008 from 38.9% of GDP to 37.6% of GDP, and then increased between 2008 and last year.

The increase was a consequence of the growth of welfare contributions by 0.9 percentage points, reaching 15.2% of GDP. The share of taxes in Slovenia's GDP meanwhile decreased by 0.5 percentage points to 22.8%.

The share of tax revenues decreased mainly because of a drop in income and property taxes to the lowest level since 2004, according to the office.

The amount of corporate income tax was down last year by 30.2% to 1.8% of GDP, while the share of personal income tax was up 0.1 percentage points to 5.9% of GDP.

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