The bill introducing a single VAT rate of 19 percent from January 2004 may not be signed by President Rudolf Schuster, according to the daily Pravda. Opposition to the new rate comes from food, medicine, energy producers and publishers, which will see products face 4 percent rises under the new tax.
"I would agree with a single VAT rate, because it means less administration, but a 19-percent tariff on groceries is too high. People won't stop buying them, but they will increase the share of their outgoings on them," Slovak Business Federation president Pavol Konštiak pointed out.
Compiled by Conrad Toft from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
1. Jul 2003 at 10:41