Carmakers paid €148 million in income tax

Slovakia has received €148 million in income tax from the carmakers active in the country in 2014, up compared to the previous year.

The automotive industry links Slovakia and Spain.The automotive industry links Slovakia and Spain. (Source: ČTK)

Car manufacturers in Slovakia contributed more than €148 million in income tax to the state budget in 2014, of which €104 million was provided by Kia Motors Slovakia, the TASR newswire reported citing an analysis drawn up by FinStat.

The figure is considerably higher to that from 2013, when carmakers paid €108 million in income tax.

Kia Motors Slovakia saw a 34.7-percent return on its own capital. The second highest return was earned by PCA Slovakia (PSA Peugeot Citroen) at 14 percent, while Volkswagen Slovakia saw 9.3 percent.

Kia also had the highest value of EBITDA (Earnings before interest, taxes, depreciation, and amortisation) - 10.3 percent. PCA Slovakia had 5 percent and Volkswagen 5.3 percent.

Volkswagen had the lowest level of debt - 40.8 percent, while PCA Slovakia's debt reached 61.5 percent.

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