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THE YEAR IN BUSINESS

Corporate taxes to change, again

SLOWER than expected economic revival as Slovakia remains dependent on external trading partners was the prevailing economic trend for the year. Thus, even though Slovakia’s economy managed to grow, estimated at 0.9 percent for 2013, the rate was too low to make a significant impact on job creation. The unemployment rate remains among the highest in the EU. While 2012, the year in which Prime Minister Robert Fico’s government took power, was rich in tax and labour legislation changes, 2013 also brought change. The government introduced tax licenses to be paid even by loss-making firms. This is to be accompanied by a 1 percent point drop in corporate tax rates and extension of collective bargaining rights. Measures to combat tax evasion began to bear fruits in the form of higher collection during the final months of 2013.

SLOWER than expected economic revival as Slovakia remains dependent on external trading partners was the prevailing economic trend for the year. Thus, even though Slovakia’s economy managed to grow, estimated at 0.9 percent for 2013, the rate was too low to make a significant impact on job creation. The unemployment rate remains among the highest in the EU. While 2012, the year in which Prime Minister Robert Fico’s government took power, was rich in tax and labour legislation changes, 2013 also brought change. The government introduced tax licenses to be paid even by loss-making firms. This is to be accompanied by a 1 percent point drop in corporate tax rates and extension of collective bargaining rights. Measures to combat tax evasion began to bear fruits in the form of higher collection during the final months of 2013.

Here we look back on the most significant economic and business news events of the year as they happened.

Top stories

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

Illustrative stock photo

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.