Spectator on facebook

Spectator on facebook

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.

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

The Financial Administration’s head resigns from post

František Imrecze says his decision was spontaneous.

František Imrecze

People will gather to support imprisoned Ukrainian filmmaker

The open letter in support of Sentsov has been signed by more than 2,800 people.

People hold posters to support Ukrainian filmmaker Oleg Sentsov, who is currently on hunger strike in a Russian jail to demand the release of the other Ukrainian hostages taken by the Kremlin, in front of the Embassy of the Russian Federation in Kiev on August 21, 2018.

Institutions can be quickly destroyed, but they are hard to build

Head of the To Dá Rozum intiative, Renáta Hall, talks about the impacts of a dispute between the academy of sciences and the Education Ministry.

Renáta Hall

Man from Russian sanction list trained president’s and PM’s bodyguards

Denis Riauzov is on the sanctions list and the secret services believe he is a Russian agent.