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Personal income tax to go to regions and municipalities

REGIONAL and municipal governments should obtain all the revenue from the collection of personal income tax, according to the fiscal decentralisation plan presented by Finance Minister Ivan Mikloš.

Of the total collected income tax, 70.9 percent should go to towns and villages and 27 percent should be allocated to regional governments. The remaining 2.1 percent will be a reserve, the news wire SITA wrote.

The regions will also have some income from road taxes while the real estate tax should go into the coffers of towns and villages. Regional and municipal governments will be free to set their local taxes from 2005.

The cabinet will deal with the proposal in May and the parliament should discuss the bill in June.

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

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