Spectator on facebook

Spectator on facebook

Further cuts to corporate tax rate planned

CUTS to the corporate tax will continue as pledged by the government a number of times in the past, Finance Minister Peter Kažimír told the TASR newswire. He however failed to specify what the bottom rate would be.

CUTS to the corporate tax will continue as pledged by the government a number of times in the past, Finance Minister Peter Kažimír told the TASR newswire. He however failed to specify what the bottom rate would be.

"I don't want to set any specific rate that we're aiming for; I just want to say that the trend of reducing the tax will continue," said the minister as quoted by TASR.

The government of Prime Minister Robert Fico increased the originally 19-percent corporate tax to 23 percent in line with the across-the-board consolidation initiative to tackle the effects of recession back in 2012. The measure came into effect as of January 1, 2013. Just one year later, the same government proposed to reduce the rate to 22 percent as of January 2014.

"It was necessary due to the consolidation package that had to be dealt with. We said at the same time that as soon as the macroeconomic developments – and mainly better tax collection – allow we would lower the rate," Kažimír said.

He rejects opposition criticism which claims reducing the corporate tax after only one year is an admission that the original idea to increase the tax was a mistake.

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.

Top stories

Old Market Hall will host Christmas Bazaar on Sunday

One of the events which presents diplomatic communities residing in Slovakia to the wider public is the traditional Christmas Bazaar, which focuses on gastronomy and charity.

Christmas Bazaar 2016

Messerschmidt created most of his character heads in Pressburg

Bratislava will name a square after the prominent artist

A replica of one head from the series Character Heads by F. X. Messerschmidt; ownership of the Slovak National Gallery

Blog: The wanderer returns home

The places you visit, people you befriend, experiences that leave their mark, they all become a part of you.

Go east for real morality, Jean-Marc Barr says Photo

The French American actor/director, who plays in a Slovak co-production film, said during a recent visit to Bratislava that eastern Europe, and other eastern countries still have what America has already and what…

Jean-Marc Barr during IFF Bratislava 2017