Spectator on facebook

Spectator on facebook

BUSINESS BRIEFS

FinMin prepares more tax changes

SLOVAKIA's Finance Ministry is working on further changes to the Income Tax Act.

According to the Hospodárske noviny daily, the ministry is considering banning legal entities from assigning 2 percent of their income tax to be paid to NGOs, as the act currently allows. Instead, the money would go directly to the state budget, the newspaper reported.

This year, NGOs in Slovakia gained around Sk700 million from the 2 percent provision. According to former Finance Minister Ivan Mikloš, the proposed changes will hurt the NGO sector.

The ministry is also considering canceling the possibility for employees as well as self-employed people to deduct Sk12,000 a year from their taxable incomes if they are saving in the country's supplementary pension scheme.

Should this proposal be approved, Slovakia could find itself in a legal battle with its pension savings companies, some of which are already signaling that they would take the case to an international court of arbitration.

Finally, the ministry is also considering cancelling the non-taxable Sk300,000 base for firms.

Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak