Slovakia: Bank Tax Should Reach € 1.0bn

Politics ♦ Published: July 21, 2012; 19:12 ♦ (Vindobona)

The Slovakian government raised the bank tax up to 0.4% on deposits. Once the tax intake totals € 1.0bn, the tax should be abolished.

Slovakia: Bank Tax Should Reach € 1.0bn / Picture: ©

Slovakia´s new government plans a radical tax reform. Most of all, the flax tax should be abolished. Until now, companies were subject to a tax rate of 19%. 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 strength of Slovakia. The tax quota for companies…