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Finance minister: We want to postpone investment stimuli to 2014 and beyond

The Slovak government wants to postpone provision of investment aid in the form of tax relief to several private companies to 2014 and beyond, Finance Minister Peter Kažimír said after a cabinet session on Wednesday, October 3. According to Kažimír, 2013 is a key year. "We're struggling with a shortfall in revenues ... so, naturally, we're trying to negotiate with individual applicants for stimuli to postpone their needs to future years," the minister said, as quoted by the TASR newswire.

The Slovak government wants to postpone provision of investment aid in the form of tax relief to several private companies to 2014 and beyond, Finance Minister Peter Kažimír said after a cabinet session on Wednesday, October 3. According to Kažimír, 2013 is a key year. "We're struggling with a shortfall in revenues ... so, naturally, we're trying to negotiate with individual applicants for stimuli to postpone their needs to future years," the minister said, as quoted by the TASR newswire.

Economy Minister Tomáš Malatinský, who proposed the state aid, said, however, that he hoped the proposal on investment assistance would make it onto the cabinet’s agenda next week after its withdrawal from the current session.

The cabinet has twice postponed discussion of provision of investment incentives for nine investors, the SITA newswire wrote. They concern Magneti Marelli, Mondi SCP, Samsung, Bekaert Slovakia, Delta Electronics, Continental Automotive Systems Slovakia, Muehlbauer, Ekoltech and Fagor Ederlan. The investors are planning to invest a total of €338 million in Slovakia by the end of 2017, and create or preserve almost 1,900 jobs. The government is being asked to provide the nine with a tax holidays totalling more than €101 million.

Sources: TASR, SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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