AmCham: Firms face excessive taxation and paperwork

Businesses in Slovakia are troubled by an excessive administrative burden, high taxes and an inefficient judiciary, according to a recent survey carried out by the American Chamber of Commerce in Slovakia (AmCham).

Businesses in Slovakia are troubled by an excessive administrative burden, high taxes and an inefficient judiciary, according to a recent survey carried out by the American Chamber of Commerce in Slovakia (AmCham).

The survey was processed and assessed by Deloitte Slovakia. The results of the research, which was conducted this year, have been compared with figures emerging from an earlier poll carried out in 2010.

“When 2010 and 2013 are compared, administration-related expenditures [measured in time and money] increased from 68 percent to 83 percent. This is a very negative trend,” Patrik Ferko of Deloitte Slovakia said on December 10, according to the TASR newswire.

What seems to ail entrepreneurs doing business in Slovakia most is the judiciary, however. As many as 92 percent of the respondents disagreed with the statement: “Court processes are resolved quickly and efficiently.”

These two categories of businesses appear to be further troubled with excessive taxation. “Here we can see the most marked shift towards a negative mood,” Ferko said. “While the tax burden was perceived by 68 percent of the surveyed companies as optimal in 2010, the figure was only 26 percent in 2013.”

He added that this has been caused by increases in corporate tax from 19 to 23 percent, VAT hikes and other measures. Entrepreneurs were also found to disapprove of advance tax payments calculated based on economic results recorded in the previous year.

As many as 67 percent of respondents view corruption as a problem. Some 59 percent of all the respondents view the process of setting up a new firm in Slovakia as positive.

(Source: TASR)
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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