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IN SHORT OF BUSINESS

Firms want payroll taxes lowered

ACCORDING to the Slovak Business Alliance (PAS), entrepreneurs continue to see Slovakia's high payroll taxes as a major obstacle to doing business in Slovakia.

PAS experts say that the cabinet should consider decreasing or abolishing payroll taxes to increase the country's competitiveness.

Changes in the payroll tax system, says PAS, could lower the tax burden by 4 to 6 percent from the current 47.8 percent rate per gross wage, the daily SME reported.

Even though the Slovak cabinet has managed to cut payroll taxes from 50.8 to 47.8 percent, Slovakia's rates are the highest in the region and paid largely by employers.

It has been suggested that the government should classify health insurance contributions as taxes, reduce unemployment insurance contributions and make pension, sickness and accident payments voluntary instead of compulsory.

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