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SDĽ warns of impact of proposed tax changes

The Democratic Left Party (SDĽ) warned August 28 that government-approved tax cuts would cost the state budget 5 billion crowns in 2003, and a shortfall of 25 billion in social, pension and insurance funds.

SDĽ member and Finance Minister Brigita Schmögnerová had strongly criticised cabinet's approval of a set of tax cuts, which included a reduction of corporate income tax from 29% to 26% as of January next year, proposed by Deputy Prime Minister Ivan Mikloš.

The party has said that it will not support the proposals in Parliament. They are due to be discussed in September.

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