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| The tax and contribution burden will not be limited to the 37% limit |
| Bratislava, 05.12.2024 |
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| The tax and contribution burden in Slovakia will not be limited to a maximum limit of 37% of gross domestic product (GDP). This was proposed by opposition MP Marián Viskupič (SaS) in an amendment to the Constitutional Act on Budgetary Responsibility, which the National Council (NR) of the Slovak Republic did not advance to the second reading on Wednesday. This is the so-called tax brake, with which SaS has long been trying to supplement the existing debt brake rules.
According to Viskupič, the tax brake would represent a fundamental step in ensuring economic stability, protecting the business environment and supporting the well-being of citizens. "The Slovak Republic is at a crossroads where the increasing high tax burden threatens the competitiveness of our economy, discourages investors and reduces the motivation to create value," he assessed in the explanatory report.
The monitored indicator would be the sum of revenues from taxes, levies, fees, payments and other payments considered as taxes and revenues from compulsory social and health insurance, measured by a uniform European methodology and expressed in proportion to GDP. It would be published annually by the Statistical Office (Ú) of the Slovak Republic.
According to the proposal, the general government budget should not contain a higher expected level of tax burden than the set upper limit. The legal norm also included a procedure in case this limit was exceeded. The proposal also included situations when these procedures would not be applied. These are a state of war, the first calendar year of a new government, the first year after a change in the calculation methodology, as well as the first year after the year when the upper limit mathematically increased due to a decrease in GDP.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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