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Prime Minister Fico proposes ending flat income tax rate

Individuals in Slovakia with a monthly income exceeding €3,246 will pay a higher tax rate, Prime Minister Robert Fico announced after a meeting with the Solidarity and Development Council on June 21. This group of individuals will pay a 25-percent income tax rate, higher than the current 19-percent flat rate that has been in effect for many years.

Individuals in Slovakia with a monthly income exceeding €3,246 will pay a higher tax rate, Prime Minister Robert Fico announced after a meeting with the Solidarity and Development Council on June 21. This group of individuals will pay a 25-percent income tax rate, higher than the current 19-percent flat rate that has been in effect for many years.

"I speak about one percent of the inhabitants of Slovakia who will have a 25-percent tax rate," Fico told the SITA newswire. "We insist that this category also include constitutional officials even if they do not fulfil the criterion of €3,246 per month.

This measure will only affect judges and prosecutors who earn more than €3,246, Fico said.

The flat tax with a 19-percent rate for both individuals and businesses is likely to end if the Slovak parliament passes the proposal. The government earlier announced that it plans to raise the tax rate for businesses to 23 percent from its current rate of 19 percent.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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