BUSINESS BRIEFS

Investor: Keep your tax promises

US INVESTOR Molex Slovakia, which has put up to $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.

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