Investor threatens changes if tax promises scrapped

US investor Molex Slovakia, which has put $5-6 million into building a factory near east Slovakia’s Košice, says it may have to change its investment plans or even leave Slovakia if the government changes its tax relief promises in line with EU rules.

Molex promised to invest another $70 million over 10 years in return for five years of no taxes, and another five years paying 50 per cent of the set rate. The EU, however, has called such tax advantages unfair, and has made their elimination a condition of entry.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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