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ECONOMIC BRIEFS

VAT will change on January 1

The cabinet on October 21 approved an amendment to the Act on the value added tax (VAT), aimed at increasing 1998 state budget revenues by 2.2 billion Sk. The amendment is moving some items, mainly food (meat, fish, dairy products, fruits, vegetables, corn, sugar) from the 23 percent tax bracket to 6 percent bracket. On the other hand, it increases VAT from 6 percent to 23 percent on other items, mainly services (telecommunications, financial and insurance sector, consulting).

The telecommunication services' increase alone will bring 1 billion Sk into the budget. All changes will come into force in January 1998. The government also increased the excise duty on tobacco from January 1, 1998, by an average of 4 Sk per large pack, which should bring an additional 1 billion Sk into the budget.

Top stories

PM Fico wants Education Minister’s resignation

Education Minister Peter Plavčan has refused to leave, the Prime Minister demanding his resignation.

Education Minister Peter Plavčan

Have you ever climbed a via ferrata? Photo

In central Slovakia, there is one also suitable for beginners. Here are some of the views it offers.

Things that make us different also make us stronger

On August 19, a rainbow flag will fly over the US Embassy in Bratislava to represent the firm commitment of the United States to defending the human rights of LGBTI people, writes Ambassador Sterling.

The rainbow flag flew over the US Embassy in Bratislava in 2016.

Southern Slovakia will face heat again

The first-level warning is issued for the 16th and 17th.