Finances and Advisory - page 8 - The Slovak Spectator

Bratislava has less than 1 percent of real estate tax dodgers

ONLY very few people of those who own a flat or a plot in the Slovak capital and report it do not pay a tax.

Compiled by Spectator staff

Regional governments can no longer decide on road tax rates.

Regions adjust to tax changes

Loss of road tax revenue prompts complaints about potential loss of regional autonomy.

Peter Adamovsky

Real estate tax rates hardly change

FOR THIS year, the average rate of real estate tax has marked almost no change at all compared to 2014. It fell a mere 0.06 percent against last year, according to the analysis of the Business Alliance of Slovakia (PAS).

Compiled by Spectator staff

New rules raise questions

Tax experts point to several problems caused by revisions.

Radka Minarechová

Tax criminality changes

ORGANISED crime in Slovakia has been changing to new forms of economic criminality: while so far, businessmen evaded money from the state mainly through unjustified, excessive VAT refunds; recently they have been searching for new, sophisticated methods to dodge taxes.

Compiled by Spectator staff

Companies spend 207 hours on average fulfilling tax duties in Slovakia, the report found.

Changes to corporate tax make slow progress

Country comes 100th in global ranking; high income tax and bureaucratic duties blamed.

Erik Rédli

No tax for entry to historical towns

HISTORICAL towns in central Slovakia, Banská Štiavnica and Kremnica, do not use the chance to collect taxes from motor vehicles for entering the historical centre and staying there.

Compiled by Spectator staff

It is possible to find several lists of tax dodgers on the internet.

VAT dodgers leave blacklist earlier

NAMES of companies caught red-handed committing VAT-related sins will be deleted from the list of VAT dodgers after they have successfully met all their VAT-related duties for six months.

Compiled by Spectator staff

Global scandals are old news in Slovakia

Three recent international scandals highlight the need for Slovakia to retain individual intelligence capacity.

Tom Nicholson

Sberbank allegedly ponders sale of its Slovak arm

THE CONFLICT between the West and Russia has allegedly forced the Russian bank Sberbank into selling its assets in central Europe, including Slovakia.

Compiled by Spectator staff

Increased tax revenue to fund social package

TAX revenues are developing in Slovakia in a more positively than the Finance Ministry predicted even though the deflation reduced the final, additional, sum the Robert Fico government will have at its disposal.

Jana Liptáková

Companies have a bigger appetite for loans.

Corporate loans on the rise

AFTER a two-year decline, banks in Slovakia are reporting an increased demand for corporate loans. While low business confidence accounted for much of the lull, analysts cite a return to investing in growth as the engine of the more recent revival.

A large portion of people prefer banks for saving.

Slovaks are conservative and thrifty savers

DESPITE low interest rates and low incomes, some Slovaks still make an effort to save for the future, with most preferring traditional checking and savings accounts.

ATMs now offer more services than just cash withdrawal.

ATMs here to stay

AUTOMATIC teller machines (ATMs) are nothing new, but they too are being forced to change with the times.

Seniors lack financial literacy

SLOVAKS do not excel at financial literacy generally, but seniors and pensioners are particularly vulnerable.

New guidelines in place for lenders

MORTGAGES should not go to just anybody who asks for one, the National Bank of Slovakia (NBS) has warned in reaction to a significant increase in the number of loans given out. Growth is not always a good indicator, as the central bank sees a risk that increased competition on the lending market has led to an easing of credit standards – leading to a new set of recommendations to lenders.

This year’s floods caused huge damage in Vrátna.

More floods mean more insurance

THE IMPACT of torrential rain, thunderstorms, lightning, hail, landslides and floods caused millions of euros in damage in Slovakia this year, and with signs that climate change is creating less predictable global weather patterns, flood insurance is an increasingly necessary investment for many homeowners and businesses.

Mobile phones are turning into multi-functional devices.

Mobile payment breakthrough coming

IN RECENT years, banks and mobile operators have brought lots of new technologies and improvements for contactless mobile payments. Although these kinds of payments still account for just a small portion of all payments, more options and increased usage are expected in the coming year.

Housing construction saving is suitable to finance reconstruction, for example.

Old-school investment still paying off

HOUSING construction savings accounts, once heavily incentivised by the state, remain popular. While the tax benefits offered by the government have fallen, interest rates remain considerably higher than those offered by basic savings accounts.

Erik Rédli

Several factors support loan consolidation.

Slovaks consolidate loans

LOAN consolidations are being propelled by record low interest rates, leading to increased competition among banks for retail clients.

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