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Bank employees are main payers of "millionaire tax"

The so-called "millionaire tax" that Slovakia's leftist government introduced last year will primarily impact people working in the banking and telecommunications sectors.

The so-called "millionaire tax" that Slovakia's leftist government introduced last year will primarily impact people working in the banking and telecommunications sectors.

According to the continual salary survey by the Internet portal Merces.sk, one in six respondents with an increased tax burden work in the banking and financial sectors. Eleven percent of people in this category are employed in the telecommunications sector and a further 20 percent work in the IT sector.

However, employees in the pharmaceutical sector, trade and the automotive industries will feel less impact from the measure. The amendment to income tax law decreases the non-taxable portion of the tax base for monthly gross wage exceeding Sk47,600, thus increasing the tax burden for the aforementioned categories of employees. Employees with gross monthly salaries higher than Sk85,000 have no non-taxable minimum that is deducted from the tax base.

The survey shows that according to work positions, the lower non-taxable portion of the tax base will affect first and foremost directors, of whom 84 percent will feel the negative impact of the measure. This group is followed by regional directors (81 percent), commercial directors (61 percent) and IT managers (51 percent). Also, 48 percent of IT specialists and 42 percent of branch directors will have their non-taxable portions of the tax base reduced. The "millionaire tax" will influence mainly men (14 percent) but will also impact five percent of women. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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