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Babiš’s Duslo Šaľa seeks record tax relief
10 Jul 2014 Flash News
The chemical company Duslo Šaľa from the portfolio of the tycoon and Czech Finance Minister (of Slovak origin) Andrej Babiš can get from Slovakia the highest tax relief in the last 12 years.
It demands a 10-year tax holiday worth almost €60 million in exchange for investing €300 million in the region, the Sme daily wrote July 10. Duslo Šaľa, a division of Agrofert, indicated it was considering leaving Slovakia already a few months ago, complaining mostly about high energy prices. About 800 jobs in Duslo Šaľa were at stake. It planned to move the production to the Czech Republic or Germany, the TASR newswire wrote.
“The planned investment in a new production line will be €300 million,” Agrofert spokesman Karel Hanzelka told the Slovak public TV and Radio, RTVS. “The agreement is for the tax holiday to include €58 million for 10 years.”
The state said that nothing has been decided yet, according to Sme. The European Commission will have the last say in the tax holiday that would concern the production of ammonia.
Economy Minister Pavel Pavlis said that the investment aid should bring approximately 80 new jobs; but Agrofert keeps silent about new jobs, according to RTVS.
Until recently, Slovak legislation has not enabled stimuli without opening new jobs, Sme wrote. However, the ruling Smer party adjusted the legislation this spring through the law on protection of consumers, i.e. shortly after the departure of Duslo from Slovakia started to be discussed.
(Source: Sme, RTVS)
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