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Stores in Slovakia Not Planning to Raise Prices Due to Higher VAT Yet
Tuesday 04 January 2011 Zoom in | Print page
Bratislava, January 4 (TASR) - The increase in the VAT rate in Slovakia from 19 to 20 percent as of January 1, 2011 shouldn't lead to higher consumer prices in the upcoming period, representatives of stores approached by TASR have confirmed.
According to the Government's promise, the VAT rate should return to its previous level when the public-finance deficit falls back under 3 percent of GDP [which the Government expects to occur in 2012. - ed. note].
"We've publicly promised that prices won't grow at Kaufland due to the increased VAT at least until the Easter holidays," said Kaufland retail chain spokesperson Erika Pfundtnerova.
Electronics sellers NAY and OKAY aren't planning price hikes either. "Our efforts will be to balance the differences caused by the VAT increase by better commercial results and by adjusting the conditions vis-a-vis our suppliers," said Alena Langova from OKAY Slovakia's advertising and marketing department.
Sports-garments seller EXIsport and food chain Carrefour aren't expecting price hikes in the near future either.
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