IN SHORT

Mikloš: Lower income tax would cut evasion

LOWERING Slovakia's income tax rate from 19 to 15 percent by 2010, in gradual cuts of one percentage point each year, would have no negative impact on the amount of taxes collected, according to Finance Minister Ivan Mikloš.

"We predict that people would be more willing to pay these taxes, meaning that the scope for tax evasion would be eliminated," said Mikloš at a press conference on April 28.

According to Mikloš, the gradual cuts of one percentage point each year with the goal of reaching 15 percent in 2010 would also increase foreign investments to Slovakia and boost economic activity.

Lower tax incomes from individuals will be compensated by higher profits and the resulting taxes paid on these profits, TASR wrote.

The definitive income tax results for 2005 will not be known until this autumn, Mikloš added.

According to the preliminary figures of the Slovak Tax Bureau, however, the amount of income tax from legal entities should reach Sk39.1 billion (€1.04 billion) or 2.7 percent of GDP in 2005.

According to the Finance Ministry's current macroeconomic prognosis and the 2005 projected yield, the income tax of legal entities should be Sk43.9 billion in 2006.

Get daily Slovak news directly to your inbox

Top stories

Worse-off districts in Slovakia should undergo another round of testing

It is necessary to carry a negative COVID-19 test result from January 27 to at least February 2.

1 h
White Crow laureates (l-r): Andrej Belák, Jolana and Štefan Náther, Jaroslav Macek

The stories of White Crow laureates show how important it is to speak up against injustice

The awards went to four initiatives in justice, education, health care and minorities.

25. jan
The mass testing in Nitra.

News digest: Results from weekend nationwide testing still not out

The parliamentary committee recommends one candidate for new police chief. NASA picks a picture by Slovak photographer as its Astronomy Picture of the Day.

18 h
Gábor Grendel (OĽaNO), Juraj Šeliga (Za Ľudí), and SaS MPs Marian Viskupič and Jana Bittó Cigániková.

Matovič government takes after Smer in lawmaking

The second-largest testing scheme of the whole population is underway in Slovakia. Government says they ordered enough vaccines. Layoffs of transnationals in Bratislava.

23 h