Law on investment aid changed

Slovak MPs have altered the law on investment aid as part of changes to consumer protection regulations passed March 25. Smer MPs argued that this should speed up tax relief for investments exceeding €200 million.

Slovak MPs have altered the law on investment aid as part of changes to consumer protection regulations passed March 25. Smer MPs argued that this should speed up tax relief for investments exceeding €200 million.

However, the amendment was criticised by two opposition independent MPs, Juraj Miškov and Martin Chren. They opine that Smer thus introduce into practice automatic tax relieves for investments over €200 million, and moreover, secretly through an indirect amendment.

Opposition MP Juraj Miškov was among the most outspoken critics of the changes, according to TASR newswire, citing a lack of parameters — like the number of new jobs or the location of investments in a region with high unemployment rates – other than investment amount. He also voiced the suspicion that the amendment was tailor-made to suit a specific investor and a specific investment, the Metropolis project near Bratislava.

Critics want to turn to President Ivan Gašparovič and ask him not to sign the amendment and they want to table a proposal that would oblige the government to inform about investment stimuli allocated through this law in the future.

(Source: TASR, press release)
Compiled by Zuzana Vilikovská from press reports
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