Opposition to contest tax licenses at Constitutional Court

OPPOSITION parties grouped within the People’s Platform and extra-parliamentary New Majority-Agreement (NOVA) are taking a coordinated course of action to prevent the passing of new tax licenses, the TASR newswire reported on November 29.

OPPOSITION parties grouped within the People’s Platform and extra-parliamentary New Majority-Agreement (NOVA) are taking a coordinated course of action to prevent the passing of new tax licenses, the TASR newswire reported on November 29.

The four parties are convinced that the introduction of the tax licenses, designed as part of the amendment to the Income Tax Act, will harm the business environment in Slovakia.

NOVA, led by former justice minister Daniel Lipšic, is ready to take the matter up with the Constitutional Court.

"We're launching talks with opposition MPs about filing a complaint with the Constitutional Court,” TASR quoted him as saying. “The amendment to the Income Tax Act seeks to change the rules of the game retroactively on how businesses write off their losses. In terms of the stability of the business environment and employment, it's important to take such a proposal to the Constitutional Court.”

The Finance Ministry, however, defends its measure and maintains that approximately 60 percent of companies operating in Slovakia do not pay any taxes and pointed out that, with the introduction of the licenses, income tax rates for firms will drop from 23 percent to 22. The rate of individual tax license will depend on the turnover of a given company and whether or not it pays VAT. Companies which do not pay VAT and see a turnover of up to €500,000 will pay €480, whereas those paying VAT with the same turnover category are to pay €960 and firms with turnovers exceeding €500,000 will pay €2,880, TASR wrote.

Source: TASR

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

Get daily Slovak news directly to your inbox

Top stories

Investors pursued projects and transactions despite the virus

Investors pursued projects and transactions despite the virus. Check out the 2020 investment highlights from Slovakia.

The visualisation of new Istropolis building

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Virtual school and children's well-being

11 tips how to help children thrive during the pandemic.