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AmCham: Firms face excessive taxation and paperwork
11 Dec 2013 Flash News
Businesses in Slovakia are troubled by an excessive administrative burden, high taxes and an inefficient judiciary, according to a recent survey carried out by the American Chamber of Commerce in Slovakia (AmCham).
The survey was processed and assessed by Deloitte Slovakia. The results of the research, which was conducted this year, have been compared with figures emerging from an earlier poll carried out in 2010.
“When 2010 and 2013 are compared, administration-related expenditures [measured in time and money] increased from 68 percent to 83 percent. This is a very negative trend,” Patrik Ferko of Deloitte Slovakia said on December 10, according to the TASR newswire.
He added that this has been caused by increases in corporate tax from 19 to 23 percent, VAT hikes and other measures. Entrepreneurs were also found to disapprove of advance tax payments calculated based on economic results recorded in the previous year.
As many as 67 percent of respondents view corruption as a problem. Some 59 percent of all the respondents view the process of setting up a new firm in Slovakia as positive.
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