Tax freedom day, the first day in a given year on which people have earned enough to fund the state's annual tax demands, will fall on June 1 this year in Slovakia, according to an analysis released by the Association of Slovak Taxpayers and the F. A. Hayek Foundation on Thursday, May 31. Tax freedom day in 2011 fell on June 3, the TASR newswire wrote.
According to F. A. Hayek Foundation analyst Tomáš Púchly, the level of state redistribution has dropped slightly this year. The moving of tax freedom day to an earlier date is also due to continuing GDP growth and measures aimed at consolidating the public finances. The overall result was also influenced by the fact that there are three fewer working days in 2012 than in 2011.
Compiled by Zuzana Vilikovská from press reports
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1. Jun 2012 at 10:00