Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Tax Freedom Day falls on May 22 this year

"TAX Freedom Day", a symbolic marker used to measure each country's overall tax burden, fell on May 22 in Slovakia this year, the F.A. Hayek Foundation and the Association of Slovak Taxpayers announced.

"TAX Freedom Day", a symbolic marker used to measure each country's overall tax burden, fell on May 22 in Slovakia this year, the F.A. Hayek Foundation and the Association of Slovak Taxpayers announced.

Slovakia's Tax Freedom Day moved forward three days compared to last year. This day has been moving towards the start of the year for about three consecutive years. In 2005, Tax Freedom Day fell on June 7.

According to the Tax Foundation, a tax-exempt educational organisation based in Washington, D.C., Tax Freedom Day answers the question "What price is the nation paying for government?"

The day is arrived at by dividing the amount a country collects in taxes (and, in Slovakia's case, social payments) by its total income. That number, expressed as a percent, is then applied to the number of days in the year, which results in a specific date.

Top stories

Socialism elections were parody of free vote

After the revolution in 1989 the number of people participating in elections fell from 99 percent to around 60 percent.

Elections during socialism regime.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between November 17 and November 26, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Lúčnica

Top 3 stories from Last Week in Slovakia Video

Chinese could produce e-cars in Slovakia - PM Robert Fico does not see election defeat - Poliačik leaves the strongest opposition party

PM Robert Fico

Ecocide! How Slovakia destroys its national parks

Officially, the number of forests in Slovakia keeps growing but satellite shots of the national parks evoke horrors.

logging at Muránska Planina