Municipalities and regional governments across Slovakia will receive €52.7 million from the state, the SITA newswire wrote. This is a transfer to assist in covering a shortfall in collected personal income tax, the predominant revenue source of municipalities and regional governments.
Towns and villages are expected to receive €39.5 million from this sum while €13.2 million will be allocated to Slovakia's eight regions, based on a proposal by Finance Minister Ivan Mikloš which the cabinet approved on October 20. The Finance Minister is to arrange the transfer of funds by October 29.
The shortfall in income tax revenues of towns and villages due to the economic crisis was partly made up by a €100-million subsidy in late 2009 while another €33 million was distributed in April 2010. Regional governments, however, were not included in either of those previous transfers.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
21. Oct 2010 at 14:00