Spectator on facebook

Spectator on facebook

FOCUS SHORT

Bank tax raises over €22m in Q1

BANKS have started paying a recently introduced special tax on their assets in Slovakia. In total they paid over €22.4 million into the state’s coffers during the first quarter of 2012, according to a report in the Hospodárske Noviny financial daily in late January.

BANKS have started paying a recently introduced special tax on their assets in Slovakia. In total they paid over €22.4 million into the state’s coffers during the first quarter of 2012, according to a report in the Hospodárske Noviny financial daily in late January.

“Our revenue forecast was fulfilled,” said Finance Ministry spokesperson Martin Jaroš, as quoted by the daily. He added that based on a preliminary analysis bank assets have not been moved abroad to any significant extent. This means that the state’s projection of annual income of €80 million from the special levy could be fulfilled.

Finance Minister Ivan Mikloš pushed though the special tax, levied at a rate of 0.4 percent on certain assets held by banks, in the autumn of 2011 and it became effective at the beginning of this year.

The opposition Smer party had proposed a higher tax rate of 0.7 percent.

Topic: Finances and Advisory


Top stories

What does a big fat Slovak wedding look like?

Eating cock meat or noodles with human milk used to be a part of a Slovak wedding, but to most couples today, having a candy bar or professional photographer is more important than observing traditions.

Illustrative stock photo

Spectacular Slovakia: Anti-Ottoman Bastion on film Video

Štiavnické Bane was the centre of the technical, cultural and religious education of the Austria-Hungary monarchy beginning in the 15th century.

The first Slovak satellite goes into orbit

After five years of construction, SkCUBE is ready to fly

Another salary negotiation at Volkswagen fails Photo

The strike continues, the representatives of the trade unions say it would be a mistake to give up.