Spectator on facebook

Spectator on facebook

Government approves changes in taxes

Slovakia’s government has approved the second big package of measures which will contribute to an increase in taxes for individuals as well as companies. Thanks to the new taxes the revenue for the state budget might increase by an additional €468.9 million next year, the TASR newswire reported.

Slovakia’s government has approved the second big package of measures which will contribute to an increase in taxes for individuals as well as companies. Thanks to the new taxes the revenue for the state budget might increase by an additional €468.9 million next year, the TASR newswire reported.

According to the initiative, which is now up for debate in Parliament, corporate tax is to be raised in blanket fashion from 19 to 23 percent. Meanwhile, individuals earning more than €3,246 per month will see their income-tax rate go up from 19 to 25 percent, the TASR newswire wrote.

A special, extra 5-percent income-tax rate will apply to selected constitutional officials such as MPs, government members and the president. Moreover, a cap on 40-percent, lump-sum, tax-deductible expenditures is also to be introduced, with the upper limit projected to stand at €5,040 per year, or €420 per month.

The Finance Ministry expects that the changes will increase state revenue by €519.9 million in 2014 and €551.9 million in 2015, TASR wrote.

Yet, analysts criticise the measures.

“It is a sign of incapability of the government to decrease expenditures,” said Radovan Ďurana, analyst with INESS think tank, as quoted by the Sme daily.

Source: TASR, Sme

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo

Peter Sagan announces split with his wife Katarína

The Slovak cycling star who has a young son said “It will be much better this way”.

Peter Sagan marries Katarína, November 2015.

Heavy rains flood the Tatras Video

People had to be evacuated and several hiking routes had to be closed.

Stará Lesná

Trump plays with the world like a spoiled child

The White House is now broadcasting its most spectacular soap opera, beating and overcoming those of sundry leaders from different continents and different times.

Donald Trump