Slovaks will work longer to pay their taxes this year than at any other time in history

Coronavirus has pushed back Tax Freedom Day by weeks in Slovakia.

Illustrative stock photoIllustrative stock photo (Source: TASR)
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Tax Freedom Day, the first day in a given year on which people have earned enough to fund the state’s annual tax demands, will be delayed for a record period of time in Slovakia this year.

While in 2019, Slovaks started to earn money for themselves as of May 27, this year, they will have to wait a few more weeks. The reasons are the increasing expenditure of the government in response to COVID-19, as well as unplanned expenditures imposed by the previous Smer government.

“The impact of the coronavirus pandemic will inevitably be reflected in this year’s Tax Freedom Day, which will certainly be significantly later than last year,” said Tomáš Púchly, analyst with the F. A. Hayek Foundation, as cited by the Hospodárske Noviny daily.

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