Tax licenses will hit the smallest firms

AN ANALYSIS by FinStat project suggests that small companies, which employ the majority of Slovaks, will pay the highest amounts for the so-called tax licenses.

AN ANALYSIS by FinStat project suggests that small companies, which employ the majority of Slovaks, will pay the highest amounts for the so-called tax licenses.

The firm calculated that the state would cash in €82 million through tax licence fees to be paid even by loss-making companies, with 40 percent of the sum being paid by small firms with annual turnover lower than €0.5 million. They would have to pay €480 for a license, the Hospodárske noviny daily reported on September 16.

“Results will be similar even for next year,” FinStat analyst Filip Glasa told the Hospodárske noviny, adding that in 2015 state will gather €82 million through tax licence fees and almost €33 million will come from small companies.

Observers say that the measure will force companies to cut their spending. The Finance Ministry claims that it wants to prevent tax evasion. About 60 percent of companies have paid no taxes, it added.

However, such legislation punishes also honest businesses, according to Veronika Dubielová of Účtovná jednotka accounting company.

“They hurt also starting firms and drain their sources which are not unimportant in first years of doing business,” Dubielová said, as quoted by Hospodárske noviny.

(Source: Hospodárske noviny)

Compiled by Roman Cuprik from press reports
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