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AmCham Presents Miklos With Proposals for Improving Business
Thursday 18 November 2010 Zoom in | Print page
Bratislava, November 18 (TASR) - Profits from selling shares in companies should be tax-free, and the system of fines for breaking accounting and tax-paying rules should undergo changes, according to key proposals presented by the American Trade Chamber (AmCham) at a meeting with Finance Minister Ivan Miklos on Thursday.
"We need to look into this in detail and assess all the possible effects," said Miklos after his talks with AmCham.
Miklos agrees that the current system of imposing fines in relation to accounting and taxation procedures is not a good one. "A company that is reluctant to co-operate with the relevant authorities can end up with lower fines than another company that does co-operate," explained the minister.
"The taxation of capital incomes from sales of company shares is also a problem, as these are actually taxed twice," said Miklos, adding that if AmCham's proposals are implemented, Slovakia's competitiveness and economic growth will increase, and the country could see more investments.
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