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Gasparovic Returns Law on 80-percent Taxation; Sulik Summons Parliament
Friday 17 December 2010 Zoom in | Print page
Bratislava, December 17 (TASR) - President Gasparovic on Friday returned the law on income taxes to Parliament, saying he didn't sign it as it needs a "more consistent substantiation", namely the parts introducing an 80-percent tax on surplus emission quotas that some companies received in allegedly excessive amounts under the tenure of the previous government. The excessive-taxation provision is designed to be effective in 2011 and 2012.
In Parliament on December 1, the move was backed by the entire Coalition, while most MPs representing opposition parties abstained from the vote. Now that the head of state has returned it, Parliamentary Chairman Richard Sulik later on Friday decided to summon the House to meet on Tuesday, December 21. "I'm very unhappy but I have to summon MPs to meet once again before Christmas," said Sulik. He did so because the Coalition wishes that the law comes in effect as was originally proposed - that is, as of January 2011.
The initiative was drafted by Finance Minister Ivan Miklos (SDKU-DS) who defended it by saying that Slovak companies were set overly generous emission limits by the previous government, earning them €660 million over the 2008-12 period. According to Miklos, these limits were disadvantageous for the state, so the ministry has decided to levy a tax on the surplus amounts. The measure is aimed at raising €150 million for state coffers.
"These revenues will at least partly cover the losses caused by Robert Fico's government, which acted in favour of private companies instead of the public interest," said Miklos on Friday, adding that the new tax will affect 133 firms.
Miklos's allegations about the former government handing out overly generous emission limits are rubbish, said Smer-SD leader and former premier Robert Fico.
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