Spectator on facebook

Spectator on facebook

New EU tax might cut into Slovak pensions

The new tax on financial transactions that the European Union plans to introduce might reduce the pensions of over 1 million of pension savers by tens of percent annually, the Hospodárske noviny daily wrote in its Tuesday, May 7 issue.

The new tax on financial transactions that the European Union plans to introduce might reduce the pensions of over 1 million of pension savers by tens of percent annually, the Hospodárske noviny daily wrote in its Tuesday, May 7 issue.

The EU plans to tax, in addition to already taxed deals and transactions, the transactions with bonds and shares through which managers of pensions appreciate people's savings. Thus, if people saving for their future pensions in the so-called second and third pension pillar (i.e. outside the state Sociálna poisťovňa social insurer) earn about two percent annually, these gains will be reduced by the new tax. Head of the Associaiton of Pension-administering Companies, Stanislav Žofčák, told the daily that the appreciation in the second pillar will be lower. NextFinance’s analyst Jiří Cihlář opined that people will probably lose interest in private pension savings.

Several experts agreed, as quoted by the SITA newswire, that any positive effects of the tax will be minimal, at least in Slovakia, which has no serious reason for introducing such a tax. The official reason for implementing the tax is to share the costs of the current economic crisis.

(Source: Hospodárske noviny, 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.

Top stories

Šumiac breaks sweat record: first sauna to be revived

The sauna built in Šumiac by miller Michal Demo after returning from Russian captivity was the first one not just in Slovakia but in the entire former Czechoslovakia. Now it can be saved and re-used.

The construction of first Slovak sauna in Šumiac

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between August 18 and August 27, as well as regular services in different languages, training for foreigners in English and highlights of the year.

Pivobrana - Beer Festival

Have you ever climbed a via ferrata? Photo

In central Slovakia, there is one also suitable for beginners. Here are some of the views it offers.

Agrokomplex opens its gates Photo

This year’s exhibition has more discussions with experts and a family programme.