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A leader of the Entrepreneurs Union predicted that a new VAT law

will go into effect January 1, 1996 that will lower the tax from 25 to 23 percent. The new law will not change the 750,000 Sk limit (three month turnover) for registration to pay the VAT. The Entrepreneurs Union has proposed to the Ministry of Finance to introduce a special 15 percent income tax for small entrepreneurs who do not exceed certain income levels, the leader added.

Top stories

Lack of experts challenges ICT sector

To maintain the competitiveness, the Slovak government must support digitising the economy and take a positive stance towards the ICT sector, according to experts.

Illustrative stock photo

Germans will distribute cars from Nitra’s JRL plant

The state-run freight carrier Cargo did not succeed in its bid, but is still discussing the distribution of suborders with the German firm.

Jaguar Land Rover’s construction site

Ministry: Law against puppy farms affects honest breeders

The recently passed law, clamping down on puppy farms will have serious consequences for honest dog breeders and state employees.

Illustrative stock photo.

Mihál leaving SaS

Behind his decision is disagreement with the stances of party chair Richard Sulík.

Jozef Mihál (l) and Richard Sulík (r)