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BUSINESS IN SHORT

Banks object to more taxes

BANKS paid €266.90 million in direct and indirect taxes to Slovakia last year, the Slovak Banking Association (SBA) stated on April 26, saying that €173.40 million was paid in income tax and the rest came from indirect taxes, non-deductible taxes and VAT.

BANKS paid €266.90 million in direct and indirect taxes to Slovakia last year, the Slovak Banking Association (SBA) stated on April 26, saying that €173.40 million was paid in income tax and the rest came from indirect taxes, non-deductible taxes and VAT.

“This money ends up in the state budget as available income,” Ladislav Unčovský, the SBA’s executive director told the TASR newswire. “The higher the sector's profits, the higher the taxes we pay into the budget. So, we don't understand Finance Minister Ivan Mikloš's initiative to introduce another special tax on banks.“

The idea of levying a special tax on banks beginning in 2012 is included in the Slovak government’s Stability Programme for 2011-2014.


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