The increase in VAT to 19 percent will mean an automatic increase in the price of books and newspapers, according to publishers. They expect to see a drop in demand as consumers face a drop in real earnings.
"The rise in VAT will markedly reduce the profitability of individual publishers and many will be forced below capacity," said Jozef Dukes, partner in the publisher 7 Plus.
This year has already seen a 25 percent drop in book sales after a rise in VAT on books from 10 to 14 percent, according to publishers.
Compiled by Conrad Toft from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
20. Jun 2003 at 11:58