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Tax hike for banks and regulated sectors proposed

CORPORATE income tax for banks and companies operating in regulated industries should be increased, opposition MP Igor Matovič believes, the TASR newswire reported.

CORPORATE income tax for banks and companies operating in regulated industries should be increased, opposition MP Igor Matovič believes, the TASR newswire reported.

It is therefore his intention to increase the tax for these companies from the current 22 to 39 percent, while VAT on foodstuffs ought to be halved from 20 to 10 percent, TASR learned from a party proposal that was submitted for the parliamentary session due to take place in September.

“There’s been long-term talk in Slovakia that foodstuffs are substantially more expensive here than in surrounding countries,” Matovič argues, as quoted by TASR.

Matovič also explained how the party arrived at the list of companies to which the measure would apply.

“We’ve found a group of firms that tend to have above-average profits, and we believe that if we raise income tax for these companies in a relatively symbolic manner, it will be fair for all other people in Slovakia,” he said, as quoted by TASR.

The OĽaNO leader also proposed that a ban on increasing regulated prices should be introduced to prevent the companies from doing this in response to the measure.

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.

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