Income Tax Act amendment showered with criticism

A NUMBER of institutions and organisations have expressed their discontent with measures proposed within the amendment to the Income Tax Act, which the Finance Ministry has submitted for interdepartmental review. The ministry has received a total of 620 comments, including 283 essential proposals. Apart from state and public institutions, the critics include employer commercial, business and professional organisations.

A NUMBER of institutions and organisations have expressed their discontent with measures proposed within the amendment to the Income Tax Act, which the Finance Ministry has submitted for interdepartmental review. The ministry has received a total of 620 comments, including 283 essential proposals. Apart from state and public institutions, the critics include employer commercial, business and professional organisations.

“We have to distinguish between constructive suggestions and mere attempts to maintain the status quo together with space for tax evasion, which we can not accept," said a Finance Ministry spokesman. The department adds that it will deal with the proposals for changes and comment on them after evaluating them.

The Finance Ministry proposes several changes in the amendment: It wants to tighten the definition of tax and non-tax expenses, establish limits for buying a vehicle for business purposes and introduce changes in depreciation and amortisation rules. The proposed changes also include the support to companies involved in research and development. The ministry argues with efforts to support the business environment and boost tax fairness.

Several entities, however, do not see the ministry’s proposal in the same light. The Association of Private Doctors criticises the proposal to introduce mandatory cash registers at doctors’ practices. The American Chamber of
Commerce in Slovakia disagrees with the proposed changes in depreciation and amortisation, as well as with the assessment of tax expenses. Business associations do not like stricter rules in administration, either. The employers’ association Klub 500 points out that the proposed changes will add
administrative burden to taxpayers due to changes in the software related to tax deductions.

(Source: SITA)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

UPDATED: Report: Slovakia a finalist to host new car plant

SLOVAKIA and Poland are said to be the last two countries competing for a new unspecified car plant while final decision could be made in the summer 2015.

Monk seal, to be seen in a movie at Ekotopfilm/Envirofilm festival in Bratislava and Banská Bystrica

Countrywide events

Tips for events between May 22 and 31, including a concert of top four world/ethno music Slovak bands, a festival of environmental movies, days of architecture, an opera premiere, a literary festival, two markets of…

The TSS team in 2010: from left,bottom row: Jana Liptáková, Beata Balogová, Ján Pallo, Zuzana Vilikovská; top row: Donald Spatz, Tatiana Štrauchová, Marta Fukasová, Michaela Terenzani, Roman Král, Martina Mišíková, Dáša Košútová, Beata Fojtíková, James Thomson

More independent thought and self-confidence for Slovakia

The Slovak Spectator has been covering the development of Slovakia for two decades now. On the occasion of the celebration of its 20th anniversary it surveyed its founder, head of the Petit Press publishing house as…

Asian tourists in Bratislava

Bratislava tourists good for little more than a three hour tour

IN THE tourist season, the Slovak capital is frequently visited by tourists, including Austrians, Americans and tourists from Asia alike. But most stay just long enough for a brief guided tour, and coffee break…

MOST READ ARTICLES


  1. Many Slovaks still migrate for work
  2. Volkswagen opens state-of-the-art body shop
  3. Levoča altar has been reconstructed to full splendour
  4. UPDATED: Report: Slovakia a finalist to host new car plant
  5. Young Slovak scientists succeed at International Science Fair in Pittsburgh
  6. Blog: The state of Services for expats in Bratislava
  7. Slovak Božena minesweepers head to Nigeria and Bangladesh
  8. 4 things to know when drinking in Slovakia
  9. Bratislava tourists good for little more than a three hour tour
  10. Slovakia will host ice hockey world championship
  1. Volkswagen opens state-of-the-art body shop
  2. Many Slovaks still migrate for work
  3. Levoča altar has been reconstructed to full splendour
  4. Blog: The state of Services for expats in Bratislava
  5. Slovakia will host ice hockey world championship
  6. Russia's Sberbank considers leaving Slovakia
  7. 4 things to know when drinking in Slovakia
  8. Young Slovak scientists succeed at International Science Fair in Pittsburgh
  9. Bratislava tourists good for little more than a three hour tour
  10. Slovak Božena minesweepers head to Nigeria and Bangladesh
  1. Many Slovaks still migrate for work
  2. 4 things to know when drinking in Slovakia
  3. Volkswagen opens state-of-the-art body shop
  4. Levoča altar has been reconstructed to full splendour
  5. Slovak Božena minesweepers head to Nigeria and Bangladesh
  6. Young Slovak scientists succeed at International Science Fair in Pittsburgh
  7. Russia's Sberbank considers leaving Slovakia
  8. Slovakia will host ice hockey world championship
  9. Blog: The state of Services for expats in Bratislava
  10. Slovak aid to Nepal remains grounded