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Fiscal decentralisation presented

MUNICIPALITIES will be free to decide the rate of real estate taxes and local taxes, which will be transformed from the current system of local fees under the fiscal decentralisation scheduled to begin in 2005.

The income of municipalities and higher territorial units will include road taxes and taxes from the income of physical business entities in their area, the Slovak daily Pravda wrote.

In 2005, municipalities should operate with Sk33.6 billion (€838.7 million). In 2007 the sum is expected to grow to Sk35.8 billion (€893.7 million) and one year later it will be Sk38.3 billion (€956.1 million), according to the Finance Ministry's fiscal decentralisation plan that was presented on April 6.

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

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