SLOVAKIA uses tax holiday as one of its investment stimuli and dozens of companies are currently enjoying tax holidays, which in some cases amount to millions of euros. In this way the state loses euros in lower taxes, but in return investors bring jobs to Slovakia, the aktualne.sk news web portal wrote. Among companies enjoying tax relief are automotive companies, but also a major steelmaker. Experts argue that the government should focus on supporting companies who bring investments with added value into Slovakia.
The government provided tax relief to almost 90 companies between 2002 and 2010. The new government of Iveta Radičová plans to provide tax holidays too. The Economy Ministry led by Juraj Miškov has confirmed this, but wants to make such incentives more effective.
“Tax holidays provided during the first years lasted for 10 years,” explained Daniela Piršelová, spokesperson of the Economy Ministry. “Currently, provision of state/investment assistance is conditional on keeping the investment in the region for five years at least after the investment plan is over.”
27. Sep 2010 at 0:00 | Compiled by Spectator staff