SLOVAKIA’S finance minister says the Competitiveness Pact, which the biggest eurozone economies have drafted to help deal with the instability of the single European currency, is a good idea but insists it cannot be accepted whole. According to Ivan Mikloš, the major problem would be harmonisation of the tax base for corporate profits.
“We basically agree with these measures and support this activity although we have some reservations,” Mikloš said, as quoted by the SITA newswire.
Mikloš does not see a problem with measures including unified wage indexing, mutual acknowledgement of qualifications, linking the pension system to demographic development, creation of national crisis mechanisms for banks, or incorporation of a debt-brake system in the constitutions of member states.
“Our fundamental problem is with the harmonisation of corporate income tax,” SITA quoted Mikloš as saying. “We fear that it is not realistic to reach an agreement on the tax base that would not worsen the Slovak tax system.”
28. Feb 2011 at 0:00 | Compiled by Spectator staff