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Finance Minister Mikloš comments on EU-proposed special bank tax

Neither the Finance Ministry nor the Slovak government will oppose a special bank tax in Slovakia if the initiative is co-ordinated within the entire EU and does not affect bank customers, Finance Minister Ivan Mikloš said at a press conference on February 23, the TASR newswire reported. A new tax on banks could be introduced as of January 1, 2012 Mikloš said, adding that the rate has not been agreed upon but it is expected to be in the region of hundredths rather than tenths of 1 percent.

Neither the Finance Ministry nor the Slovak government will oppose a special bank tax in Slovakia if the initiative is co-ordinated within the entire EU and does not affect bank customers, Finance Minister Ivan Mikloš said at a press conference on February 23, the TASR newswire reported.

A new tax on banks could be introduced as of January 1, 2012 Mikloš said, adding that the rate has not been agreed upon but it is expected to be in the region of hundredths rather than tenths of 1 percent.

"If this directive comes into force as of January 1, the tax will be introduced in Slovakia on January 1 of next year or as soon as possible," Mikloš stated. The minister does not expect the tax to affect bank clients.

"We're also adopting measures that would put pressure to reduce charges," Mikloš said, adding that the tax would significantly affect bank customers only if the rate proposed by the opposition Smer party was imposed. The opposition party proposed a much higher tax rate, Mikloš said.

Smer said its proposed bank tax would have served as compensation for the loss of revenue from VAT which Smer proposed to remain at 19 percent. That proposal was rejected by parliament which approved the government's plan to raise VAT to 20 percent.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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