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.

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

“By a sharp knife” cuts through the heart of injustice in Slovakia

A film inspired by the 2005 murder of student Daniel Tupý will be premiered to the Slovak public on February 21.

Director Teodor Kuhn behind the scenes of Ostrým Nožom.

The moment that changed my perception of the media

One flew over the newsprint: Images from the history of the Sme daily

Alexej Fulmek (right) and Karol Ježík in the early days of Sme.

Stravinsky: Listening is an effort, and just hearing is no merit

Winter edition of the prominent chamber music festival Konvergencie focuses on Russian composer Igor Stravinsky.

Igor Stravinsky and Robert Roth