NEWS BRIEFS

Schuster signs series of economic laws

SLOVAK President Rudolf Schuster signed into law the draft revision to the bill on international assistance and cooperation in the administration of taxes. The law stipulates the terms for providing information, shifts some powers from the Finance Ministry to the Slovak Tax Directorate, and extends international cooperation on the administration of taxes to include some taxes not in the current law.

The private SITA news agency wrote that the president also signed the draft amendment to the law on state aid, which enacts new roles for Slovakia in the field of state aid and cancels the State Aid Office (ÚŠP) on the day of Slovakia's entry into the European Union (EU). The Slovak government will cooperate with the European Commission when approving state aid, keeping records of provided minimum aid, and preparing annual reports of provided state aid.

The president also signed the draft revision to the insurance law that fully harmonises Slovak legislation with EU directives regulating commercial insurance. The revision will facilitate the life insurance business and eliminate existing discrepancies within the supervision of the insurance market.

The president also signed the draft bill on the protection and use of farmland, which cancels fees for the re-classification of farmland.

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