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Gov't Wants Makeshift VAT Rate at 20 Percent as of Next Year
Monday 06 September 2010 Zoom in | Print page
Bratislava, September 6 (TASR) - As of next year, Slovakia's VAT tax rate will go up from the current 19-percent flat rate to 20 percent, Prime Minister Iveta Radicova said after the Coalition Council session on Monday. Radicova added that the lowered VAT rates on books and medicaments won't change and will stay on 10 percent.
The VAT rate is planned to be higher only temporarily, until Slovakia's public finance deficit is squeezed under 3 percent of GDP, which is at the moment forecasted for 2013.
By this measure, which the Coalition calls the 'Fico tax', is to bring one-fifth of the planned increase in state's revenues , set at €800 million.
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