Slovak News Back to the news
Parliament Overrules Gasparovic's Veto of 80-percent Emission Tax
Tuesday 21 December 2010 Zoom in | Print page
Bratislava, December 21 (TASR) - Parliament on Tuesday overruled President Ivan Gasparovic's veto to the act on income taxes, which does away with several exemptions in taxation and introduces 80-percent tax for surplus emissions in 2011 and 2012.
As many as 77 of the 79 MPs present at the extraordinary parliamentary session voted for the bill, with opposition Slovak National Party (SNS) MPs Anna Belousovova and Rudolf Pucik abstaining from the vote.
Given that the Act is part of Government's consolidation package, Premier Iveta Radicova (SDKU-DS) wants to see it come into effect as of January 1.
Finance Minister Ivan Miklos (SDKU-DS) last month defended the emissions initiative by saying that Slovak companies were given overly generous emission limits by the previous government, and they were set to earn €660 million from them 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, adding that the new tax will affect 133 firms.
Gasparovic claimed that the bill is retroactive and therefore unconstitutional. Furthermore, it is at odds with the relevant European directive on business with emission quotas, said Gasparovic.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
