Slovakia Abolishes Flat Tax

People ♦ Published: October 3, 2012; 17:44 ♦ (Vindobona)

Because of the austerity pressure, Slovakia gives up its flat tax. The corporation income tax rate increases to 23% from 19%.

Slovakia Abolishes Flat Tax / Picture: © Wikipedia / Dr J. Herbert

After eight years, the Slovak flat tax will be abolished. In 2014, the Slovak government introduced a 19% income tax rate for companies and individuals. The tax rate for companies should be lifted to 23%. As a result, the attractiveness of the Slovakian business location is massively concerned of the austerity policies. For foreign investors, the relatively low tax rate was seen as…