The new Slovak government plans to unify the rates of the value-added tax, reads a draft of the government’s programme statement elaborated by the Finance Ministry, the SITA newswire reported. The government is expected to re-evaluate the existing exemptions anchored in the law on income tax and other tax legislation.
Based on the draft programme statement acquired by SITA on July 21, the goal of the planned reassessment is to lower the number of such exemptions to a significant extent. The flat tax rate on income is to be preserved. Any potential increase in the income tax rate can solely be associated with the cancellation or reduction of some health and social insurance contributions, the ministry writes in the material.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
22. Jul 2010 at 14:00